India's Reliance Big Entertainment has reportedly invested in filmmaker Steven Spielberg's co-founded DreamWorks, according to The Wall Street Journal.
The $500 million deal is expected to allow DreamWorks to sever ties to its owner, Viacom’s Paramount Pictures. Reliance Big Entertainment is also reported to be raising an additional $700 million through J.P. Morgan Chase & Co.
According to Reliance Big Entertainment’s Web site, the company is involved in the production areas of gaming, movies, animation, music, sports and user-generated content.
No official statements have been made by either DreamWorks or Reliance Big Entertainment at this time.
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