Sweet Dreams

A major Hollywood split is closer to happening:

DreamWorks SKG is nearing a deal with one of India's biggest entertainment conglomerates to form a new business partnership reports Variety.

The venture with Mumbai-based Reliance - ADA Group, would allow director Steven Spielberg to have the cash ($500-$600 million) to finance DreamWorks long time coming seperation from Viacom Inc.'s Paramount Pictures later this year.

The Indian firm has interests in telecommunications, financial services and entertainment. They want to become a Hollywood player by financing films. The deal gives them a large share in the company which will likely seek another $500 million or so in debt financing before departing from Paramount.

Once the money is in place, Dreamworks will generate around half a dozen pictures a year.

Garth Franklin of Dark Horizons wonders...

...which studio will he choose to distribute the projects. Universal Pictures remains the most likely contender, though 20th Century Fox is emerging as a serious new challenger.

Paramount retains rights to the films they created during their short time at Paramount - most notably the "Transformers" franchise.

I would think that given Spielberg's past affiliation with Universal and Amblin Entertainment history that would have been decided....