Steven Spielberg's struggling company, DreamWorks Studios, has gotten a second chance to stay alive. The New York Times reported that the studio could continue to make more movies in the following year, thanks to its primary financier India's Reliance Entertainment.
An insider close to the dealmaking revealed that Reliance has agreed to invest $200 million in DreamWorks. Under the new agreement, however, the studio is able to develop only three or four low-budgeted movies a year.
As for big films, the studio will seek to partner with other studios such as 20th Century Fox or Participant Productions. Both Reliance and DreamWorks have yet to make an official statement regarding the report.
Reliance had invested a $325 million in the Spielberg company back in 2009. However, after a number of under-performed movies, such as "Cowboys and Aliens", "Fright Night", "Dinner for Schmucks" and "I Am Number Four", it was uncertain if the Indian financier would continue to support the studio.
The recent breakout hits from DreamWorks were "Real Steel" which grossed $295.1 million worldide, and Oscar-nominee "The Help" which took in $206.7 million worldwide. This year, the studio will release two movies, "People Like Us" and "Lincoln", which both will be distributed by Walt Disney Pictures. Its other upcoming project is "Robopocalypse" which will be released in the U.S. in July 2013.