Reliance Big entertainment arm of ADAG has entered into joint venture with Hollywood living legend Steven Spielberg. Under the new agreement, joint venture will make six films a year. Reliance Big has invested $500 million in the project and this joint venture company will fund all Spielberg movies. Though there has not been any official communication from ADAG, it is believed that Spielberg might use the fund received from ADAG joint venture to come up with his sold company DreamWorks.

 

According to analysts the ambitious project from Reliance Big is aimed at company’s plan to become global leader in entertainment industry. The group has also bought a US located theatre management company to operate in US and has set up a distribution company to earn license rights. In India, Reliance Big already has Adlabs cine complexes. Lately the company has bought more than 200 theatres across 28 locations in North America, including New York, New Jersey, Atlanta, Detroit, Chicago, San Jose, Los Angeles, Washington DC and Seattle.

 

The deal will surely shot up the ambition of ADAG’s aim to emerge leader in entertainment industry worldwide say some experts. The deals with Hollywood actors and producers with an Indian entertainment company would ensure South Asian audiences have vast choices. Interestingly in last month ADAG announced projects at the Cannes film festival in collaboration with Hollywood stars Tom Hanks, Brad Pitt, Jim Carrey and George Clooney worth $1 billion.