India’s Reliance Group is currently negotiating with Universal Studios, one of the oldest American movie studios to build a 400 acre theme park and resort in India at the total investment of $15 billion. Some of the key cities considered for setting up the theme park are New Delhi and Mumbai.
The theme park would bear a striking resemblance to 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.
There are speculations that Reliance’s Big Entertainment unit and Universal Studios, a unit of General Electric Co's NBC Universal could reach a deal this year, although nothing has been finalized yet.
The Wall Street Journal quoted a source stating that Reliance ADA ( Anil Dhirubhai Ambani 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. Universal has declined to comment and officials for Reliance were not immediately available.
