DreamWorks Near Bollywood Alliance

Deal would speed Spielberg team's Paramount departure
By Rob Quinn,  Newser Staff
Posted Jun 18, 2008 10:09 AM CDT
DreamWorks Near Bollywood Alliance
'Transformers' was a big hit for DreamWorks and Paramount but box-office duds like 'The Island' helpd sour the relationship between the two.   (AP Photo/DreamWorks)

Steven Spielberg's DreamWorks venture is closing in on a deal with an Indian media conglomerate that could fund a break from Paramount Pictures, the Wall Street Journal reports. Mumbai-based Reliance, a conglomerate with stakes in telecom, finance, and entertainment looking to expand into Hollywood, could bring as much as $600 million. The Spielberg team's relations with Paramount have grown chilly recently.

A flashpoint in the feud came when the head of Paramount parent Viacom said in September that a DreamWorks departure would be "completely immaterial" to Viacom—further angering Spielberg and partner David Geffen, already bridling over sleights from above. Reliance, meanwhile, plans a $1 billion outlay in Hollywood over the next 18 months, signing production deals with George Clooney, Brad Pitt, and others. (More Steven Spielberg stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X