Disney moved in after the distribution deal announced last October between DreamWorks and Universal fell apart due to financial considerations. Spielberg and Snider had been in talks with Disney chiefs last week and it is understood the deal was finalised several days ago.
The first picture to go through the pipeline is scheduled to arrive in theatres through the Touchstone label in 2010. Reliance will distribute the new company's projects in India.
Disney chairman Dick Cook said he was 'thrilled and honoured' to be working with Spielberg and Snider and said the new influx would be 'the perfect complement to the already robust slate of Disney and Touchstone films being made by Oren Aviv and his team.'
'DreamWorks has had a great creative and commercial track record under the leadership of Steven and Stacey Snider and I am delighted they're now associated with Disney,' Disney president and CEO Bob Iger added.
For his part Spielberg called Disney 'the birthplace of imagination', adding: 'This is a major step forward for us and Reliance.'
'Under Bob Iger and Dick Cook's leadership, the Walt Disney Company represents the highest standard of quality in our industry,' Snider added. 'Everyone at DreamWorks is thrilled to be embarking upon this new and exciting partnership and we look forward to our future with their great team.'