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Movie-maker and Reliance ADA Group may partner on project
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India's Reliance ADA Group is in talks with Universal Studios to build a $1.5 billion theme park and resort in India, The Wall Street Journal reports. That destination would seek to capitalize on rising demand for entertainment in one of the world's fastest-growing markets, a person familiar with the matter told the business newspaper.
Reliance, a media-to-energy conglomerate backed by billionaire Anil Ambani, would be full owner of the park but would pay Universal royalties and fees for using brands and content linked to popular Hollywood movies such as “Jaws,” “E.T.,” “Spider-Man” and the “Harry Potter” franchise. The park would look much like Universal's other major theme parks in Los Angeles, Orlando, Fla., and Japan, with a variety of roller coasters and rides, shops with movie-related merchandise and nearby hotels.
The India complex is expected to stretch over 400 acres, which would make it one of the biggest such sites in the world. Reliance's Big Entertainment subsidiary and Universal, a unit of General Electric Co.'s NBC Universal, still are discussing terms, but could reach a deal this year. One person familiar with the matter cautioned the Journal that talks are at an early stage, and may not come to fruition.
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