Spielberg found a billion dollars on a new film company

Spielberg found a billion dollars on a new film companyDirector and producer Steven Spielberg has completed a deal with the Indian telecoms group Reliance ADA on the formation of a new company. It is reported by Comingsoon.The deal with Reliance ADA, which is owned by billionaire Anil Ambani, will enable Spielberg and his team to resign from DreamWorks, which now controls Studio Paramount Pictures.Under the agreement signed by the parties, Reliance ADA Spielberg will provide 500 million dollars, in return for a significant stake in the new company Director. In addition, Reliance ADA through investment Bank J. P. Morgan Chase & Co will offer the new company a loan for another $ 700 million. Earlier it was reported that the loan Spielberg will give himself J. P. Morgan Chase & Co.The new Studio Spielberg will shoot up to six per year. Now the Director needs to find a new distributor for his films. Most likely, they will become Universal.It is expected that following the announcement of the deal team Spielberg is the Chairman of the Board of Directors of DreamWorks David Geffen and CEO of DreamWorks Stacey Snider - retires from DreamWorks. However, after the dismissal Spielberg will be working with Paramount on several projects, in particular, a sequel to "Transformers".Spielberg and Snider, will head the new company, which has no name yet.Studio DreamWorks was founded in 1994. In December 2005, the Studio was sold for 1.6 billion dollars to the owner of the Paramount company Viacom. Source: Spielberg found a billion dollars on a new film company.

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