According to a Reuters report, Reliance Anil Dhirubhai Ambani (ADA) Group is in talks with Universal Studios to build a USD 1.5 billion, 400 acre theme park and resort in India. The main cities being considered for the theme park are New Delhi and Mumbai.
Reliance's Big Entertainment unit and Universal Studios, a unit of General Electric Co's NBC Universal could reach a deal this year, although one person familiar with the matter warned that the talks were at an early stage and could break down, as per Wall Street Journal report. Reliance ADA Group is controlled by Anil Ambani.
The Wall Street Journal cited a source stating that Reliance ADA Group would have full ownership of the venture but would pay Universal royalties and fees for using content linked to popular movies like ‘Jaws’, ‘E.T.’, ‘Spider-Man’ and the ‘Harry Potter’ franchise.
The park would look much like Universal's parks in Los Angeles, Orlando, Florida and Japan, with a variety of roller coasters and rides, shops with movie-related merchandise and nearby hotels.
Universal declined to comment and officials for Reliance were not immediately available. |