MUMBAI: Reliance Anil Dhirubhai Ambani Group’s head honcho Anil Ambani is currently in Los Angeles to meet DreamWorks SKG co-founders Steven Spielberg and David Geffen along with DreamWorks SKG CEO Stacey Snider.
The four met in Los Angeles this morning to discuss the last lap in order to close the $1.5 billion deal to produce 35 Hollywood movies over a period of five- six years.
As per information available, Ambani left for Los Angeles after attending the Drona premiere in Mumbai on 1 October.
Reliance BIG Entertainment will be pumping in an equity of $ 500 million into DreamWorks. On the other hand, JPMorgan Chase & Co. will lead the $700 million debt financing.
According to sources, the $1.5 billion movie studio under the joint venture will be unveiled sometime early next year. The new venture is likely to be headed by Snider.
DreamWorks SKG was founded by Spielberg, Geffen and Jeffrey Katzenberg in 1994.