08-18-2009, 09:51 AM
<b>Spielberg wins funds to launch new studio</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->LOS ANGELES (AFP) â<b> The new DreamWorks Studios run by Steven Spielberg and Stacey Snider announced it had finalized an 825-million-dollar deal with Indian conglomerate Reliance ADA Group</b>.
DreamWorks said it had secured the final piece of financing for its plan to shoot about six films a year, which came in the form of 325 million dollars provided by J.P. Morgan Securities and other banks.
Walt Disney Studios, which will handle marketing and distribution for the new studio except in India, is also set to extend a loan for an amount that was not disclosed but the L<b>os Angeles Times reported amounted to 175 million dollars</b>.
Along with the J<b>.P. Morgan financing and an equal 325-million-dollar commitment from Reliance Big Entertainment, DreamWorks secured a total of 825 million, </b>which should allow the studio to launch its activity anew after cutting its ties with Paramount Pictures in October 2008.
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DreamWorks said it had secured the final piece of financing for its plan to shoot about six films a year, which came in the form of 325 million dollars provided by J.P. Morgan Securities and other banks.
Walt Disney Studios, which will handle marketing and distribution for the new studio except in India, is also set to extend a loan for an amount that was not disclosed but the L<b>os Angeles Times reported amounted to 175 million dollars</b>.
Along with the J<b>.P. Morgan financing and an equal 325-million-dollar commitment from Reliance Big Entertainment, DreamWorks secured a total of 825 million, </b>which should allow the studio to launch its activity anew after cutting its ties with Paramount Pictures in October 2008.
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