This article was last updated on April 16, 2022
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USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…The business acumen of the business tycoon Anil Ambani and his vision when it comes to mergers and acquisitions is well known by one and all. This time round, his company's entertainment arm Reliance Entertainment's film production and distribution business in India will be seen partnering with the boutique production house Phantom Films in a 50:50 joint venture.
The equation of the deal will be that, Reliance will be owning 50 per cent of the combined business and the remaining half will be equally held amongst the four promoters of Phantom Films (Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena). In addition to this, Phantom Films will also be managing the day-to-day operations of the joint venture. Reliance and Phantom have plans to develop and produce around 5-6 films a year, besides the distribution of films in India and abroad and the syndication of rights from its 175- films library.
Speaking about this partnership, Amitabh Jhunjhunwala (Group Managing Director- Reliance Group) said that they were delighted to partner with creative and talented individuals like Anurag, Madhu, Vikas and Vikramaditya, who have an enviable track record in film making. He added that the said partnership was in line with their evolving strategy in the media and entertainment business.
Meanwhile, Madhu Mantena said that it was really great to be appreciated by India's leading entertainment company and also being given such a huge responsibility. Anurag Kashyap, on his part, said that the deal opened their windows to international opportunities and talent. He added that they now hoped to optimize on this opportunity and take the Indian cinema international and also attract excellent talent into the country.
Article written by staff at Bollywood Hungama. Read more
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