Steven Spielberg invests $50 million into Amblin Partners (File photo).
LOS ANGELES - Steven Spielberg has invested $50 million of his own money into the latest iteration of his DreamWorks Studios, putting $50 million into his new multimedia company, Amblin Partners, that he named after his first 35mm film.
The move aims to reinvigorate the old Amblin brand and to put his first funds into DreamWorks since it was founded in 1994 as a partnership with fellow moguls David Geffen and Jeffrey Katzenberg. DreamWorks Pictures, also known as DreamWorks SKG, or simply DreamWorks, is an film production label of Amblin Partners.
When the three partners formed their “full service” studio in 1994, Spielberg, Katzenberg and Geffen each invested $33 million into the studio, providing the seed money that eventually attracted a $500 million investment from Microsoft co-founder Paul Allen.