Business News

Reliance Entertainment is all set to seal DreamWorks deal! Reliance Big Entertainment, part of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG), might seal its much talked-about $1 billion deal with Steven Spielberg's DreamWorks production company very soon, the Wall Street Journal (WSJ) newspaper has reported. The paper said the move would enable Spielberg to exit from the Paramount studio umbrella. According to the earlier general outline of the deal, R-ADAG would invest $500 million in DreamWorks' new productions and another $500 million in debt through JP Morgan Chase, the report said. The new studio, which will retain the name DreamWorks may make up to 10 movies a year, depending upon the cash inflow.