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MUMBAI:
Indian billionaire Anil Ambani’s dream of conquering
Hollywood continues unabated even after a slate of releases
from the joint venture with Steven Spielberg's DreamWorks
Studios failed to impress the box office.
Ambani-promoted
Reliance Entertainment has agreed to infuse fresh funding
of $200 million in a new deal that calls for a slimmer
DreamWorks. The ambitious six movies a year announced
in 2009 has been scaled back to three to five starting
next year.
The
new arrangement, providing a lifeline to the studio,
comes after a series of negotiations that began late
last year as the global economic crisis hit DreamWorks
had. The studio had slashed its spending on development
and production.
When
contacted, a Reliance Entertainment spokesperson declined
to comment.
In
2009, DreamWorks had raised $325 million from Reliance
Entertainment for a stake. It had got another $325
million in debt.
The
releases of the science-fiction 'I Am Number Four'
and the big-budget ‘Cowboys & Aliens' bombed.
Though Academy Award nominee ‘The Help’
was a hit, but the remake of ‘Fright Night' didn’t
succeed. ‘Real Steel’ and Spielberg's own
'War Horse' put up moderate performances.
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