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 JP Morgan 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.
Ambani said, "We are delighted to continue our now seven-year-strong relationship with our valued partner, Steven Spielberg and extend this alliance to the formation of Amblin Partners with Jeff Skoll.