Universal Studios has joined a group of investors, including the likes of Participant Media, Reliance Entertainment, and Entertainment One, in purchasing stakes in Steven Spielberg’s film and television production company Amblin Partners.
Amblin, which has housed the likes of The Girl on the Train, The BFG, and Spielberg’s upcoming flick Ready Player One, was founded in 2015.
Universal have not disclosed the size of their investment but according to Variety, a source close to the deal said that Universal never saw the partnership as a straight distribution deal. That the pact with Amblin is purely a financial partnership.
In a statement from Universal Vice Chairman Ron Meyer and Chairman Donna Langley, they spoke of their affection for Spielberg and his work.
“Steven is a genius and has always been part of our family, as well as an incredible partner to Universal. We are thrilled to become strategic investors in the company”.
Spielberg’s Ready Player One is due for release on March 30th 2018.
