JP Morgan Chase’s Alan J Levine will join the board of the new Dreamworks, SKG Inc. as a result of his bank leading a consortium that includes Bank of America, City National Bank, Wells Fargo, Comerica, Union Bank of California, SunTrust, California Bank & Trust and Israel Discount Bank and providing a loan of over $300 million. Steven Spielberg leads Dreamworks and is taking it independent after selling to Viacom’s Paramount Pictures several years ago.
Indian billionaire Anil Ambani’s Reliance Big Entertainment, wrote the biggest check, $325 million, as reported first in June 2008. The global financial crisis had derailed plans to raise the balance of the funds in the US.
India observers should note that Amitabh Jhunjunwala will represent Reliance on the Dreamworks board. Western media has paid scant attention to this key player in the Reliance ADAG empire. A chartered accountant (similar to a CPA) by training, and cousin of India’s Warren Buffet, Rakesh Jhunjhunwala, Amitabh is likely going to supervise spending in a manner that Hollywood profligates are not accustomed to. While Spielberg and partner Stacey Snider (former head of Universal Pictures and longtime Spielberg collabarator) will have creative control over productions, the hand of Bollywood will play a more significant role than folks in Los Angeles imagine.
Amitabh is known as Anil Ambani’s chief strategist and has long been seen as the trusted brain and negotiator behind Ambani’s ambitious expansions plans.
Hollywood, remember, you read it here first.
Last updated: December 26th, 2025
