By: Simran Mody, India Correspondent

An American civil rights leader once said he had a dream his kids will be able to live in a world where they are not judged by the color of their skin.

Perhaps Martin Luther King, Jr. would consider his dream becoming a reality when a visionary Jewish-American filmmaker and a leading Indian executive unite in a joint international venture to entertain audiences around the world, irrespective of skin tone.

Dreamworks’ Steven Spielberg and the Reliance/Anil D. Ambani Group have reportedly come together to produce a film about King, the legendary American civil rights activist.

According to the Hindustani Times in India, a screenplay is already in development, with Ronald Hardwood spearheading the story. The news report also stated the film will have a budget near $300 million.

Spielberg and Anil D. Ambani, one of India’s leading executives in film and telecommunications, have reportedly been seeking permission from the King estate to produce a film on the American activist since May 2009. However, the Spielberg-Ambani duo just received a green light from the estate this past week, the news story stated.

In the Hindustani Times report, there were apparently a variety of differences between King’s three children about whether the film should be made and, if so, how best to portray his life.

With the King estate authorizing Spielberg and Ambani to finally move forward with a biopic on the internationally renowned activist, the film will feature the figure’s intellectual property to portray his life as accurately as possible. All of King’s works, including speeches, books, letters, and the like, were copyrighted when he was alive.

The yet-to-be-titled film will be the first-ever cinematic rendition of King’s life, should the biopic venture be completed. Fittingly, the production is spearheaded by a multi-ethnic joint venture between two of the world’s most diverse countries.

Specific details about the production have not been released, such as whether the film will be a documentary or a feature film similar to Malcolm X with Denzel Washington or Gandhi with Ben Kingsley.

To that end, a leading actor portraying King has not been announced either.