Entertainment One share price rises on Steven Spielberg’s Dreamworks partnership Amblin Partners
Peppa Pig maker Entertainment One (EOne) and Steven Spielberg's film company Dreamworks have teamed up to form a new film company called Amblin Partners.
Dreamworks, the company behind Shrek and the upcoming adaption of Roald Dahl's the BFG, has alos got backing for the new venture from entertainment companies Participant Media and Reliance Entertainment.
EOne will be the global distributor of the film and TV productions as well as licensing and merchandise, and will hold a small equity stake.
"As part of eOne’s stated growth strategy to double the size of the business by 2020, we continually strive to partner with producers of the highest quality content and Amblin Partners certainly represents the gold standard," said EOne president and chief executive Darren Throop.
"This long-term partnership builds on the successful output relationship between EOne and DreamWorks, whilst extending the relationship through additional territories, licensing and merchandising and television production and distribution.”
New financing includes a $500m debt facility frm JP Morgan Chase. Shares in EOne shot up more than four per cent in early trading.