Steven Spielberg is on the verge of completing an $825m financing for his new film venture, nine months after he began looking for capital in the worst funding market in Hollywood’s recent history. The lauded director of Jaws, E.T. and War of the Worlds joined forces last year with Anil Ambani, the Indian billionaire, whose Reliance group has pledged $325m in funding for the new company. However, the deal – a high-profile statement of Reliance’s global ambitions – was contingent on Mr Spielberg and his production partner, Stacey Snider, raising an equivalent sum in debt. The two have been working on a syndicated financing with JPMorgan for nine months and a final sign-off on the deal is now imminent.

This entry was posted by Paul Murphy on Thursday, July 16th, 2009 at 5:50 and is filed under Capital markets. Edit this entry.