"The 50-50 joint venture, which will target global audiences, will be launched by January 2009 and will produce 30 to 35 films over the next five years, the source said, valuing the deal at 1.5 billion dollars. Snider was chairman of Universal Studios until 2006. Indian billionaire industrialist Anil Ambani met with Spielberg in Los Angeles late Thursday to finalise details of the new film company which will be headed by current Dreamworks chief executive Stacey Snider, the source said. Reliance, DreamWorks to start new venture by January NEW DELHI (AFP) - A joint venture between India's Reliance ADA Group and Steven Spielberg's DreamWorks studio will start up by January and make up to 35 movies over five years, a source close to the Indian company said Friday.
The director of such legendary works as "Jaws," "Raiders of the Lost Ark," "E.T: The Extraterrestial" and the "Indiana Jones" franchise, is to form a new movie venture with India's Reliance ADA Group.
LOS ANGELES (AFP) - Hollywood directing legend Steven Spielberg is leaving Paramount Pictures to form a new film venture, the company announced Sunday.
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