Reliance Group Bails Out Obama Allies at Dreamworks: Steven Spielberg’s failing film company DreamWorks is being bailed out by India’s Reliance Entertainment – to the tune of more than $200 million.
DreamWorks has a troubled history; founded in 1994 by Spielberg, former Disney President Jeffrey Katzenberg and media mogul David Geffen, the company that dreamed of being a major studio was sold to Paramount Pictures in 2005. But Spielberg and Stacey Snider differed with Paramount, and reclaimed the company. In 2009, they made an arrangement with Reliance whereby they received $325 million, but the company, which has 80 employees, kept losing money on their movies. Titles included "I Am Number Four," the big-budget bomb "Cowboys & Aliens," "Fright Night" and "Real Steel." "The Help" was a success, but it was also backed by Participant Media, and "War Horse" did mediocre business.
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