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Paramount, DreamWorks Waiting For Reliance

One of the most buzzworthy deals of the year has yet to close -- Indian media company Reliance Ent. still intends to invest $500 million in DreamWorks, but obstacles over small banking details are holding it up, per VARIETY. The deal was supposed to close several weeks ago, but now is weeks away from closing.

The basic deal is intact, insiders say, but the intricate banking details are causing a roadblock, causing problems for both Paramount and DreamWorks' staff as well as the other majors.

Paramount's future film projects are still uncertain. Fox's and Universal's marketing and distribution departments could conceivably end up with DreamWorks' projects once the deal is finalized, so they are left hanging.

Steven Spielberg's involvement in the situation has cast a shadow of doubt over his exact directing plans. He could focus on TIN TIN with Peter Jackson or other properties could take his attention.

DreamWorks' development, under Stacey Snider, continues to move forward at the company offices at Universal, but only on a limited basis. No additional money is being spent to bring in new scripts or projects until the Reliance deal closes. New hires have also been frozen.

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