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July 13, 2011 | Richard Verrier, Los Angeles Times
Hollywood is becoming even more reliant on one of India's biggest media companies. Reliance MediaWorks, a division of Indian conglomerate Reliance ADA Group, said late Monday that it has partnered with the Venice visual effects house Digital Domain Productions Inc. to open studios in London and Mumbai, underscoring the increasingly global nature of California's visual effects industry. The new studios will provide a variety of postproduction services for movies, TV shows and commercials.
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BUSINESS
July 13, 2011 | Richard Verrier, Los Angeles Times
Hollywood is becoming even more reliant on one of India's biggest media companies. Reliance MediaWorks, a division of Indian conglomerate Reliance ADA Group, said late Monday that it has partnered with the Venice visual effects house Digital Domain Productions Inc. to open studios in London and Mumbai, underscoring the increasingly global nature of California's visual effects industry. The new studios will provide a variety of postproduction services for movies, TV shows and commercials.
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BUSINESS
May 25, 2011 | By Ben Fritz, Los Angeles Times
Former Universal Pictures co-Chairman David Linde has unveiled his new independent film finance and production company, the latest Hollywood venture to be backed by India's Reliance Entertainment. A spokesman for Linde declined to disclose details of the deal with Reliance, including how much capital the company is investing in the yet-to-be-named venture and what its ownership stake is. Reliance Entertainment, a division of the Indian media conglomerate Reliance ADA Group, has been stepping up its investment in Hollywood over the last several years.
BUSINESS
June 18, 2008 | Claudia Eller and Josh Friedman, Times Staff Writers
DreamWorks SKG, the movie studio founded by Steven Spielberg, David Geffen and Jeffrey Katzenberg that has been chafing under ownership of media giant Viacom Inc., is in talks with a number of potential investors, including one of India's biggest entertainment concerns, to raise financing to become an independent company once again. But a person familiar with the situation cautioned that talks were fluid and no deal was imminent.
BUSINESS
October 6, 2008 | Peter Pae and Claudia Eller, Times Staff Writers
Ending a short-lived and bitter relationship, DreamWorks SKG, the movie studio founded by Steven Spielberg, and Paramount Pictures said Sunday that a deal had been struck to part ways. The pact, resembling an amicable divorce settlement with joint custody of about 40 movie projects, came rather smoothly and faster than expected in light of the tense relations between the two studios. Paramount's parent, Viacom Inc., acquired DreamWorks for $1.6 billion in 2006.
BUSINESS
June 19, 2008 | Martin Zimmerman, Times Staff Writer
Anil Ambani is a major player in Bollywood. He has designs on being the same in Hollywood. The Indian billionaire owns movie production facilities and theater chains in his homeland, as well as a piece of an Indian post-production company, Prime Focus Group, that lately has been acquiring similar firms in Hollywood. His wife is Tina Munim, a famous Bollywood actress and former Miss India. Now Ambani is making a play for a major share of the Hollywood limelight.
BUSINESS
September 22, 2008 | Claudia Eller, Times Staff Writer
Check out those parting words Paramount Pictures chose Friday when kissing DreamWorks goodbye. In its prepared statement, the studio brass told Steven Spielberg and his pals that not only could they leave and take everyone with them to their new production company (never mind those pesky employment contracts), but they could do it "without delay." In other words: Good riddance. But, hey, no hurt feelings.
BUSINESS
October 16, 2008 | Claudia Eller, Times Staff Writer
Looking to cut overhead and operating expenses after the recent departure of DreamWorks co-founder Steven Spielberg, Paramount Pictures plans to release fewer films, consolidate operations and slash 25 jobs among those DreamWorks employees who remain. Paramount's management is under heightened pressure from corporate parent Viacom Inc. to continue finding efficiencies at the studio amid a tough economic climate and the increasingly profit-challenged movie business.
BUSINESS
September 12, 2012 | By Richard Verrier, Los Angeles Times
Financially struggling Digital Domain Media Group Inc., owner of one of the entertainment industry's leading visual effects companies, said Tuesday that it had filed a voluntary bankruptcy petition after a series of costly projects, including a controversial new animation studio in Florida. The Florida company said it filed a Chapter 11 petition with the U.S. Bankruptcy Court in Delaware as part of an effort to "ensure the long-term future of its core business" and trigger a "sale of assets.
BUSINESS
November 4, 2008 | Meg James, James is a Times staff writer.
Sumner Redstone hinted Monday that he might sell his family's movie theaters to fix his pressing debt problems. In a conference call with analysts, the 85-year old media mogul said his privately held National Amusements Inc., which operates 1,500 theaters, owns "valuable real estate holdings throughout the country." The company must come up with an $800-million debt payment next month as it negotiates with lenders to restructure $1.6 billion in loans. Redstone, during the call for Viacom Inc.'
BUSINESS
September 20, 2008 | Claudia Eller, Times Staff Writer
Viacom Inc.'s Paramount Pictures has released DreamWorks SKG co-founder Steven Spielberg and his team of executives from their contracts, paving the way for the famous filmmaker to form a new studio backed by India's Reliance ADA Group. The move spells an end to a short-lived and acrimonious corporate marriage that at the same time provided Paramount with some of its biggest hits in recent years.
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