DreamWorks Raises $825M; India's Ambani Takes 50% Stake

Authored by Mark Hefflinger on July 15, 2009 - 11:26am.

Los Angeles - Indian billionaire Anil Dhirubhai Ambani has paid $325 million for a 50% stake in DreamWorks, director Steven Spielberg's film studio. DreamWorks has raised a total of $825 million, including $150 million from Disney, and debt from a number of banks.

Ambani's Reliance Big Entertainment (RBE) has also invested hundreds of millions in U.S. studios headed by actors Jim Carrey, George Clooney and Brad Pitt.

Ambani also has holdings in the telecom and financial services industries.

"This is a game changer, thrusting India to the center of global film industry. And with this, we become the first transnational entertainment company out of India," RBE chairman Amit Khanna told contentSutra.

"We will participate in future rounds of fundraising in the same debt-equity proportion as and when funds are needed for film projects."

With the new financing, DreamWorks, whose films include "Shrek" and "Transformers," aims to produce 5-6 movies per year.

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http://www.relianceadagroup.com/adportal/ADA/company/reliancemedia.html

http://www.dreamworks.com