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The joint venture company, Amblin Partners, will take on film
distribution duties in new regions, including productions
already in the works such as The BFG and The Girl on the Train.
Amblin Partners will also have backing from Indian conglomerate
Reliance Group and Participant Media, a company led by former
eBay president Jeff Skoll.
"Amblin Partners will create content using the Amblin,
DreamWorks Pictures and Participant brands ... to tell stories
that appeal to a wide range of audiences," Entertainment One
said in a statement.
Shares in Entertainment One were up 5.4 percent by mid morning.
They have been under pressure over the last six months due to
delays around film releases and a refinancing.
Entertainment One did not disclose the size of its stake in
Amblin Partners.
Peel Hunt analyst Malcolm Morgan said that although the company
was silent on the scale of the equity stake or its cost, he saw
it as a "small positive item" today after a few weeks of adverse
trading and financing news flow.
The name Amblin comes from the name of a short film made by
Spielberg in 1968, which kicked off his career. He later formed
a production company called Amblin Entertainment.
(Reporting by Esha Vaish in Bengaluru; editing by Kate Holton
and Jane Merriman)
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