ADA entering Hollywood
June 18, 2008
The most renowned Hollywood director Steven Spielberg and business tycoon Anil Ambani are about to sign a deal that will see the ADA Group bankrolling Spielberg’s DreamWorks SKG with between $500 million to $600 million according to The Wall Street Journal report recently.
According to the journal, Anil’s cash will allow Spielberg (the maker of blockbusters like Jaws and Jurassic Park) and his partners Jeffrey Kaztenberg (the former Disney hotshot) and music director David Geffen to end their current agreement with Paramount Pictures that is owned by Viacom’s Sumner Redstone
The newspaper further reports that the ADA Group and the Dreamworks founders will establish a new movie company that will make approximately half-a-dozen films each year.
The agreement will offer Anil, who is married to former movie actress Tina Munim and is a close friend of superstar Amitabh Bachchan, a significant presence in Hollywood. One of his companies has already occupied good rapport in theatre business in the United States, buying movie theaters all over the country.
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