When Anil Ambani’s Reliance Big Entertainment inked a $825 million deal with Steven Spielberg and DreamWorks Studio to make six movies in a year on Wednesday, it was truly a sign of the growing importance of the Indian film industry globally. Without going into the usual effusive overdrive, it is undoubtedly the first of its kind. Production deal between an Indian company and a Hollywood major. The first film is expected to be roll out by 2010.
In such dire times, a deal of this magnitude is very good news indeed. Ambani has a 50 per cent stake in the partnership, with the remaining 50 to be shared between Spielberg and the DreamWorks CEO Stacy Snider. According to the deal, Dream Works Studios will make five to six films a year with Walt Disney and handle the marketing and distribution globally except for India which will be handled by Reliance Big Entertainment. There were rumours that the deal has been sized down due to the current financial climate but Ambani is believed to have denied it. Incidentally, the $825 million stake reportedly accounts for more than 1/3 of the Indian film industry’s turnover. The first film may be one with the famous comic character Tintin. Clint Eastwood may also be roped in to direct a movie. Talks for the deal had started way back in 2008 when it became clear that Spielberg was about to walkout of his deal with Paramount. India now becomes a big player in Hollywood as well.
Source : movietalkies
