Spielberg Gets Funds to Start Up New Studio

LOS ANGELES–( BUSINESS WIRE )–Anil Dhirubhai Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, the parent company of Reliance Big Entertainment and Reliance BIG Pictures along with Steven Spielberg and Stacey Snider, the principal partners of DreamWorks Studios jointly announced today the completion of the first phase of funding for their new motion picture company, based in Los Angeles, California. They further announced that J.P. Morgan Securities arranged the syndication of approximately dllrrs325 million of senior debt which Reliance Big Entertainment is matching with its equity commitment.