Spielberg's Reliance deal 'moving along fine'

August 14, 2008 Steven Spielberg should have his equity partnership with Reliance Big Entertainment in place within a week, after execs of the Mumbai film group sorted through final details of an accompanying debt plan in a conference call Thursday. A source close to the talks noted that the current tight credit market means bank debt would come with "onerous" costs, so some thought is being given to reducing the loan component to $550 million for a $1.1 million financing package. A business plan written by entertainment attorney Skip Brittenham pencils in September 2009 as the goal for getting a first film project before the cameras, with a slate of six films per year envisioned after that.

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