Is DreamWorks deal close?

Kind of depends on what newspaper you're reading. Last night the WSJ broke the news that the principals of DreamWorks SKG "are close to a deal" with Mumbai-based Reliance ADA Group, one of India's big entertainment conglomerates. The Journal reported that Reliance would shell out $500 million to $600 million in equity - and that DreamWorks would seek another $500 million in debt financing. All this would be an effort to break free from Paramount. Nikki Finke went to far as to post that DreamWorks "has secured" the Indian cash. But a few hours later the LAT, citing an unnamed someone in the know, reports that "talks were fluid and no deal was imminent." Then Variety reported early this morning that Reliance was in "advanced talks." Then later this morning the NYT was out with its own version, also citing unnamed so-and-sos, as saying that "any deal is still at a very early stage… and it may be several weeks before a deal is signed, if at all."
There's no telling where the truth lies - as opposed to somebody's artful spinning of what he would like the truth to be. Perhaps it's best to split the difference - that is, the talks have entered a serious stage but are still some distance from being finalized. Yeah, that sounds good. But wait, what do we mean by “serious”?

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