Hollywood and Bollywood make deal

INDIAN telecoms tycoon Anil Ambani, whose company last year held talks with MTN, is to pump R2,7billion into Steven Spielberg's film production company.

INDIAN telecoms tycoon Anil Ambani, whose company last year held talks with MTN, is to pump R2,7billion into Steven Spielberg's film production company.

DreamWorks Studios is set to make five or six films a year under the collaboration and has a current budget of R6,7billion. The partnership has been touted as the most significant yet to link Hollywood with Bollywood.

The original plan, formulated last year, involved DreamWorks raising R6billion in syndicated loans which might have been matched by Ambani.

That was jettisoned, however, when the global credit market collapsed.

This year DreamWorks signed a distribution deal with the Walt Disney Company, which will handle the marketing and distribution of the studio's films around the world, except in India. Instead, Reliance BIG Entertainment, owned by Ambani, will retain distribution rights. - The Times of London

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