On Monday Steven Spielberg’s Dreamworks Studio announced the details of its split from Paramount Pictures, so that the most successful US director can start a new studio with $1.5bn in funding from Indian entertainment conglomerate Reliance ADA Group.

DreamWorks will now take the lead on new development programs, allowing Paramount the option of co-financing and co-distributing the products, and most of the Paramount staff will stay with the new studio.

Spielberg founded DreamWorks SKG in 1994 together with David Geffen and Jeffrey Katzenberg and sold it in 2006 for $1.6bn to Viacom, Paramount’s parent company. The split came as the DreamWorks partners have continually clashed with their corporate bosses.

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