DreamWorks Studios, the film boutique founded four years ago by Steven Spielberg and Stacey Snider, got a new lease on life as Reliance Entertainment agreed in principle to continue financing the company.
DreamWorks Studios will get around 200 mn USD from its partner Reliance Entertainment to continue making films. The financing is the second part of a 2009 agreement to finance the studio. In that agreement, Reliance Entertainment, a unit of RIL ADA Group, provided the partnership with 325 million USD of capital for an undisclosed stake.
DreamWorks will make fewer movies under the arrangement than in the past. The company originally intended to make up to six movies a year, but will now aim to make three to five films annually.
The releases of the science-fiction ‘I Am Number Four’ and the big-budget ‘Cowboys & Aliens’ bombed. Though Academy Award nominee ‘The Help’ was a hit, but the remake of ‘Fright Night’ didn’t succeed. ‘Real Steel’ and Spielberg’s own ‘War Horse’ put up moderate performances.
Two DreamWorks movies will make it to theaters this year: People Like Us, a drama scheduled for release on June 29, and Lincoln, a December awards entry directed by Steven Spielberg and starring Daniel Day-Lewis. Beyond that is the July 2013 release of another Spielberg film, the sci-fi thriller Robopocalypse.