DreamWorks closes film financing deal with Reliance

Los Angeles: DreamWorks Studios has closed a film financing deal with Indian conglomerate Reliance ADA Group, the companies said on Monday.JPMorgan Securities arranged the syndication of about $325 million in financing to DreamWorks Studios, which is headed by Steven Spielberg and Stacey Snider. Reliance Big Entertainment, a division of Reliance ADA Group, is matching that amount.

Walt Disney Co will handle marketing and distribution for DreamWorks Studio`s films. The newly created DreamWorks Studios is a production unit separate from DreamWorks Animation SKG Inc. DreamWorks and Reliance ADA Group, the Indian conglomerate, announced a plan to work together last year in a film financing deal that allows DreamWorks to start anew after it cut ties with Viacom Inc`s Paramount Pictures. Bureau Report