Movies

Reliance ADA, Spielberg to start a $1.5 bn company

MUMBAI: Reliance ADA Group has signed a deal with DreamWorks SKG to start a new $1.5 billion company, completing Steven Spielberg‘s exit from Paramount Pictures and providing Indian billionaire Anil Ambani a foothold in Hollywood.

The deal is expected to finance a minimum slate of 32 movies over six years, says a source in Reliance. "The $1.5 billion amount is being raised through a mix of equity and debt," he adds.


Reliance will pump in $550 million as equity investment while JPMorgan Chase & Co. will lead the debt financing.


When contacted, Reliance Big Entertainment president Rajesh Sawhney refused to offer his comments.


Meanwhile, Paramount said in a statement it will let Spielberg and DreamWorks chief Stacey Snider join the new company immediately.


Reliance had earlier announced it would produce a slate of 69 movies in nine languages over two years. The list included developing and co-producing movies with Hollywood stars George Clooney, Brad Pitt, Tom Hanks, Jay Roach, Nicholas Cage and Chris Columbus.


"It is a big step for Reliance which has already lined up a rich slate of Bollywood films. Hollywood, after all, dominates the film business across the world. Reliance already has a strong presence in the multiplex and FM radio business and plans to enter the broadcasting arena by the year-end," says an analyst who tracks the company.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/27/phillauri%20%281%29.jpg?itok=0P_Rrhjw
New films fail to attract viewers

*The poor run of films at the box office continues unabated save for an odd Dangal or a reasonable entertainer in Badrinath Ki Dulhania. Not that any of these films can sustain a multiscreen cinema complex for more than a few weeks

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/25/Rjavardhan-rathor-800x800.jpg?itok=eYAh5ig1
Rs 125 million incurred on Film Heritage Mission this year

NEW DELHI: A total of about 1,32,000 film reels have been acquired and the work of assessment, preventive conservation and restoration started under a mission mode project under the National Film Heritage Mission (NFHM). The scheme is to be implemented between 2014-15 and 2020-21 with total outlay...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/24/anarkali%20%281%29.jpg?itok=_Hz9Q49z
Anaarkali Of Aarah: Worth a look

Just when one was expecting a week of lack-lustre films especially as some small filmmaker is releasing his or her work, comes a surprise that reinforces faith in good cinema.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/21/Badrinath-ki-Dulhaniya.jpg?itok=9AKk4o7J
Dismal releases help last week's film to turn lucky at the Box Office

MUMBAI: With dismal releases, the week proved lucky for last week’s ‘Badrinath ki Dulhaniya’ as none of the three films fresh releases this week managed to create any impact on the viewers.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/20/Freedom%20of%20speech.jpg?itok=S5jPVnrt
'Freedom of speech' vital in progressive society, says Nandita Das

NEW DELHI: Three short films made by renowned filmmakers Sudhir Mishra, Nandita Das and Ram Madhvani on meaningful subjects marked the India Today conclave on its closing day in Mumbai. India Today Group editorial director Kalli Purie said the films had been commissioned by the group to mark four...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/17/machine%20%281%29_0.jpg?itok=rcz0b_3J
Machine.... Poor show

Machine is a rather unlikely story with an unlikely title. Coming from Abbas Mustan duo, the Burmawalla brothers, who made a reputation for giving thrillers and action films with good musical score, one expected more of the same stuff. Having worked with some of the top artistes of Hindi film...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/14/badri%20%281%29.jpg?itok=86DVRTqy
'Badrinath Ki Dulhania' is on its way to becoming a hit

The time period for the release of Badrinath Ki Dulhania was dicey to say the least. The film was released bang in the middle of days of election results in the most politically volatile states of the North India, board exams and the pre-Holi Friday. Also, cinema halls are closed till mid-noon on...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/14/paramount.jpg?itok=gy3_va7l
Paramount & Anonymous Content to make 'The Windfall' as a TV series

Paramount TV and Anonymous Content have come together to develop Indian author Diksha Basu’s upcoming debut novel The Windfall as a TV series.

Movies Hollywood
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/10/kung-fu%20%281%29.jpg?itok=xrr6JRYL
Kung Fu Panda 3 premiering on Star Movies on 19 March

This month Star Movies brings to its viewers Kung Fu Panda 3, the latest installment in the animated series featuring Po, a dumpling loving Panda, who defies all odds to become a Dragon Warrior. From the very first film, Po has created a special space in the hearts of audiences of every age and...

Movies Hollywood

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories