Steven Spielberg strikes Bollywood deal, bailout for hollywood ?

by SOLARLIFE | October 6, 2008 at 05:56 am

383 views | 47 Recommendations | 19 comments

The US bailout plan included Holywood movie makers; details say not more than $ 30.000 / month ( Paulson Plan ). Paramount and Spielberg separated today. Spielberg goes Bollywood with Indian Reliance ADA group. He will produce 35 movies in the next 5 years in India.

The maker of blockbusters including Jaws, Raiders of the Lost Ark and ET: The Extra-Terrestrial is leaving his long-time partner, Paramount Pictures, to set up a new company with India's Reliance ADA Group.

The $1.5 billion US-based venture will produce up to 35 movies over the next five years and is part of a Hollywood trend to harness the success of the booming Bollywood movie industry. JPMorgan Chase bank has part-financed the venture to the tune of $700 million.

News of the deal comes two days after 20th Century Fox struck a multiple movie deal with Vipul Amrutlal Shah, one of the most successful producers in Hindi-language cinema.

Reliance is run by chief executive Anil Ambani, recently ranked the world's sixth richest man by Forbes magazine.

Details emerged as Paramount announced an "amicable" separation from Spielberg and DreamWorks, the studio which produced the Oscar-winners American Beauty, Gladiator and A Beautiful Mind.

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Tina Kells

flagged this story as Good Stuff

at 09:39 on October 6th, 2008

SOLARLIFE, I like this story. It's good stuff.

SOLARLIFE

at 10:20 on October 6th, 2008

Thanks Tina for Flag "Spielberg", the dinosaurs now from Bollywood with Shahrukh Khan

Sergio Piergallini

at 09:52 on October 6th, 2008

Spielberg, I am with you and share your choice. Bollywood strength!

Sergio Piergallini has contributed a photo to this story.

SOLARLIFE

at 10:23 on October 6th, 2008

Sergio, thanks for Sidebar image report "Spielberg"

Jarrett Martineau

flagged this story as Good Stuff

at 10:26 on October 6th, 2008

SOLARLIFE, I like this story. It's good stuff.

SOLARLIFE

at 10:36 on October 6th, 2008

Jarett, thanks for Flag, "Spielberg goes Bollywood", what a time the Dow 9605 / - 700; if -1000 I go also pack my things for Bollywood; Iceland in front of bankruptcy. Helicopters flying money out of Monaco, a real Spielberg wall street story.

JeffHuang

flagged this story as Good Stuff

at 10:32 on October 6th, 2008

SOLARLIFE, I like this story. It's good stuff.

SOLARLIFE

at 10:38 on October 6th, 2008

Thanks for Flag "Spielberg" JeffHuang, we all remeber one or the other breathtaking movie

chowdawg

at 11:31 on October 6th, 2008

It will be interesting to see the movies that get made as a result of this deal. Bollywood meets Indiana Jones; no doubt some cool costumes anyway.

SOLARLIFE

at 12:56 on October 6th, 2008

Thanks chowdawg "Bollywood meets Indiana jones", I think you hit the future problem of Spielberg in Bollywood. The new indiana jones was considered at the Cannes film festival on a high level, however the audience said to brutal; for India entertainment movies a change may be to expect.

sempeck

at 11:50 on October 6th, 2008

hmm, spielberg in madame tussauds looks like a real one. i think;)

sempeck has contributed a photo to this story.

SOLARLIFE

at 12:58 on October 6th, 2008

sempeck, thanks for Sidebar image report "Spielberg"

Rhonda J Mangus

flagged this story as Good Stuff

at 13:33 on October 6th, 2008

SOLARLIFE, I like this story. It's good stuff.

SOLARLIFE

at 13:40 on October 6th, 2008

Thanks Rhonda for Flag "Spielberg"

Sanjay Jha

flagged this story as Good Stuff

at 22:39 on October 6th, 2008

SOLARLIFE, I like this story. It's good stuff. Reliance top honcho is heavily investing in USA and focusing on expanding his media interest everywhere.