Steven Spielberg's DreamWorks SKG is close to a $500-600 million deal to form a new movie venture with India's Reliance ADA Group, the Wall Street Journal reported, citing people familiar with the situation.
The deal would give Spielberg the cash to finance DreamWorks' departure from Viacom Inc.'s Paramount Pictures later this year, the newspaper added.
Reliance would get a large stake in the new company. DreamWorks would likely seek another $500 million or so in debt financing elsewhere to give the venture enough money to make about six films a year, the Journal said.
The deal would give Spielberg the cash to finance DreamWorks' departure from Viacom Inc.'s Paramount Pictures later this year, the newspaper added.
Reliance would get a large stake in the new company. DreamWorks would likely seek another $500 million or so in debt financing elsewhere to give the venture enough money to make about six films a year, the Journal said.
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