It looks like Steven Spielberg is really going to pull up anchor on his DreamWorks SKG ship and sail out of Paramount Harbor.

The Wall Street Journal reports:

The principals of DreamWorks SKG are close to a deal with one of India’s biggest entertainment conglomerates to form a new movie venture, according to people familiar with the situation, a move that would give director Steven Spielberg the cash to finance his DreamWorks team’s departure from Viacom Inc.’s Paramount Pictures later this year.

Mumbai-based Reliance ADA Group would provide Mr. Spielberg and company with $500 million to $600 million in equity, moving them one step closer to ending one of Hollywood’s most contentious and closely watched battles.

If you’ve missed any of the backstory on this soon-to-be-historic move, check out our previous pieces: Potential Spielberg Move Has Industry Scared and Bidding For DreamWorks Begins.