Spielberg In Talks For New Studio Venture

Multi media news agency Reuters has a two page report up on their website about Hollywood Director and (Executive) Producer Steven Spielberg. The Hollywood legend is in talks with India-based movie studio conglomerate Reliance for a $1.5 billion proposal to potentially produce up to 30 movies in the next 5 years with a new independent studio.

Currently Spielberg's co-owned company of Dreamworks is still partnered with Paramount pictures for distribution, and will continue to be so for current productions until the end of the year. Presumably productions slated for after 2008 (including Transformers: Revenge of the Fallen) would then be distributed by this new studio.