DreamWorks Studios stays alive with new $200-million infusion
Steven Spielberg’s struggling DreamWorks Studios has gotten a new lease on life thanks to a $200-million investment from its primary financier, India’s Reliance Entertainment, said a person with knowledge of the matter unauthorized to speak publicly.
A shortage of cash since late last year has left many in Hollywood nervous about DreamWorks’ future. The company, led by Chief Executive Stacey Snider, severely cut back on its spending on development and production.
The independent studio has only two movies set to come out this year -- the low-budget comedy “We the People” and the Spielberg-directed biopic “Lincoln” -- compared with six in 2011, the first year that it released films in its current incarnation.
-- Ben Fritz, Los Angeles Times