Anil Ambani, Steven Spielberg Team Up

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Mumbai: The Anil Ambani-owned Reliance Entertainment and acclaimed Hollywood director Steven Spielberg’s DreamWorks on Thursday announced formation of Amblin Partners – a new film, television and digital content creation company.Participant Media led by Jeff Skoll and Entertainment One (eOne), a leading US-based media company, are also part of the joint venture.

The firms have raised USD 500 million debt for the venture. The fund-raising was arranged by JP Morgan Chase together with Comerica Bank, which served as the Co-Lead.

Other financial institutions involved in the process include Sun Trust Bank, Union Bank, City National Bank and Bank of America, among others. JP Morgan Chase and its predecessors have financed DreamWorks Studios since its inception in 1994.

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Amblin Partners has a mandate to develop and produce films using Amblin, DreamWorks Pictures and Participant banners as well as Amblin Television, a long-time leader in quality programming.

Mr Spielberg, announcing the joint venture, said, “We are honoured to continue our long-term association with our dear friend, Anil Ambani and his team at Reliance. We have had the opportunity to develop and produce wonderful films, thanks to their ongoing support.”

Anil Ambani said, “We are delighted to continue our now seven-year-strong relationship with our valued partner, Steven Spielberg and extend this alliance to the formation of Amblin Partners with Jeff Skoll.

We look forward to the combination of Steven’s passion and integrity with Jeff’s unique socially-conscious vision to create uplifting and quality content to entertain global audiences.”

DreamWorks Studios and Participant Media have collaborated on many Academy Award-nominated films such as Lincoln and The Help as well as the critically-acclaimed The Hundred-Foot Journey, and the recently released Bridge of Spies.

Amblin Partners’ film projects at various stages of production include The BFG, and The Light Between Oceans, scheduled for release by Disney in 2016; The Girl on the Train, (October 2016); A Dog’s Purpose (first quarter of 2017) and Ready Player One, a co-production between Amblin Partners and Warner Bros Pictures, which is scheduled to be released in December of 2017.

Upcoming shows from Amblin TV include All the Way, an HBO movie directed by Jay Roach and starring Bryan Cranston, with an air date to be announced shortly; and American Gothic, a summer series that will air on CBS and begin production in February 2016