Anil Ambani, Spielberg join hands to make films

Participant Media led by Jeff Skoll and Entertainment One (eOne), are also part of the joint venture

The Anil Ambani-owned Reliance Entertainment and acclaimed Hollywood director Steven Spielberg's DreamWorks on Thursday announced formation of Amblin Partners - a new film, television and digital content creation company.

Participant Media led by Jeff Skoll and Entertainment One (eOne), a leading US-based media company, are also part of the joint venture. The firms have raised $500 million debt for the venture. The fund-raising was arranged by JPMorgan Chase together with Comerica Bank, which served as the co-lead.

Other financial institutions involved in the process include Sun Trust Bank, Union Bank, City National Bank and Bank of America, among others. JP Morgan Chase and its predecessors have financed DreamWorks Studios since its inception in 1994.

Amblin Partners has a mandate to develop and produce films using Amblin, DreamWorks Pictures and Participant banners as well as Amblin Television, a long-time leader in quality programming.

"We are honoured to continue our long-term association with our dear friend, Anil Ambani and his team at Reliance. We have had the opportunity to develop and produce wonderful films, thanks to their ongoing support," said Spielberg.

Ambani said, "We look forward to the combination of Steven's passion and integrity with Jeff's unique socially-conscious vision to create uplifting and quality content to entertain global audiences."

DreamWorks Studios and Participant Media have collaborated on many Academy Award-nominated films such as 'Lincoln' and 'The Help' as well as the critically-acclaimed 'The Hundred-Foot Journey', and the recently released 'Bridge of Spies'.