WASHINGTON: Devoid of Bollywood's song and dance routine, India's filmdom is getting a hold of America's Hollywood. Steven Spielberg's, the maker of greatest Hollywood's blockbusters, new company Dreamworks will garner an investment of $600 million by Anil Dhirubhai Ambani Group (ADAG).
"We believe Indian content now has global appeal and so have expanded into buying exhibition properties in the west. But Hollywood remains the fountainhead to reach across the world so we are doing developmental silos with cutting edge talent there," a spokesman of Reliance Big Entertainment (RBE).
The dabbling is part of a larger $1 billion plus westward push in the movie business by Reliance's Entertainment. The plans include financing upto a dozen films by top Hollywood names such as Jim Carey, George Clooney, Tom Hanks and Brad Pitt, and buying theater and exhibition properties around the world.
Industry sources said contacts between ADAG and Dreamworks started last year even when the latter was falling foul of Paramount studios and its parent company Viacom. The exact culminations of the deal have not been reveled yet but ADAG executives are expected to be in Los Angeles in the coming weeks.
Dreamworks was founded in 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen with each partner pitching in $33 million and $ 500 million from Microsoft co-founder Paul Allen. Among its many hits are Gladiator, A Beautiful mind and American Beauty.
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