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  • Spielberg and DreamWorks Splitting with Paramount?

    Thu, 19 Jun 2008 10:28:48

    Spielberg and DreamWorks Splitting with Paramount? - New home at Reliance ADA in their future

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    Steven Spielberg may pack up his successful DreamWorks SKG shingle and leave its parent operating company, Viacom-owned Paramount, by the end of the year. Rumor has it that Spielberg is deep in discussions with India's Reliance ADA Group to form a brand new movie venture. Reliance is a serious industry power player in India, with reported bottomless pockets and held interests in a variety of sources, including film labs, production, and home video.

    Apparently, the new deal with Reliance would provide the storied director with more funding to expedite his departure from Paramount. Reliance would invest nearly $600 million in financing and capture a holding a stake in the new company. Spielberg declined to comment on any specifics of the possible transaction.

    —The ARTISTdirect Staff

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