It looks like Bollywood has a real interest in investing money into American cinema. The Reliance Anil Dhirubhai Group (ADA) is going to be bringing its influence and big bucks to Hollywood. You heard it right, The Wall Street Journal said they have closed a deal yesterday in New York  with iconic Hollywood director Steven Spielberg to invest $325 million in equity towards DreamWorks studio.

DreamWorks will also receive funding of $150 million from the Walt Disney company and JP Morgan will cover the rest; totaling $825 million when all is said and done.

 The 50/50 joint venture of Reliance Big Entertainment (RBE) would give Steven Spielberg a way out of his existing, ailing contract with Paramount Picture’s as well as allow the Reliance Anil Dhirubhai Ambani Group to make about six movies a year through a new project between themselves and Steven Spielberg. The films will be aimed toward a global audience, the first to be released in 2010.

“This venture with Reliance opens a new door to our future. Their visionary step has given us a new set of dreams to work toward" Spielberg said in a statement about yesterdays merge.

Their will be a four member board including Amitabh Jhunjhunwala, a close adviser to Anil Dhirubhai Ambani. Alan Levine will represent (RBE), while Stacey Snider and of course Mr. Spielberg himself will be representing DreamWorks.

It's the biggest and most high-profile deal in Indian entertainment. Lets see how they will make movie magic.

So what do our readers think about Reliance lending a helping hand…more like a helping buck  to Steven Spielberg’s fading studio? Do you think it is a good way for the Indian film industry to have more influence and power in Hollywood? As always, drop your comments below and give us your ideas.