Spielberg leaves Paramount and strikes Bollywood deal

2008-10-07 01:34:54

Director Steven Spielberg is leaving his partner Paramount Pictures to form a new Hollywood-based film venture worth 1.5 billion dollars with India's Reliance ADA Group. Yesterday I wrote about a change in the Geography of cinema: this is another signal of this process.

Reliance ADA Group is already a big player in Bollywood, India's film business. Now the new studio will make movies in the US, putting large amounts of Indian money into America's film industry. Spielberg, director of legendary works as "ET the Extraterrestial" and "Indiana Jones" franchise, will become one of the chief executives of the new studio.