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Eros International inks co-production deals with Endemol and MSM
Eros International has signed a content deal with Endemol to share intellectual property. Eros and Endemol have also signed a three-film co-production deal, whereby they will equally share a total investments of more than INR1 billion, intellectual property rights and revenues. In addition, Eros International has entered a strategic tie-up with Multi Screen Media (MSM), which has identified film production and distribution business as the company's new growth area and plans to first co-produce films before embarking on independent projects.1
PVR to invest INR1.5 billion to launch 75 new screens
Multiplex chain operator PVR plans to invest INR1.5 billion to inaugurate 75 new screens in the country over the next one year. PVR currently has 351 operational screens (including 138 Cinemax screens).The new screens will be set up across Tier I and Tier II cities.2
Yash Raj Films signs co-production deal with Dibaker Banerjee
Yash Raj Films has signed its first co-production deal with filmmaker Dibakar Banerjee, clearly indicating that the studio is looking at such tie-ups to scale up its operations. Under the terms of the agreement, Yash Raj Films (YRF) will co-produce three films with the filmmaker. While the specifics of the deal are still being worked out, it is expected that YRF will fund the films and the credits will read “YRF presents a Dibakar Banerjee production”3
Inox Leisure in talks to buy out Essel Group's multiplex business
INOX Leisure is looking at buying out the Essel Group’s multiplex business, which is part of E-City Ventures. E-City Ventures’ movie exhibition and entertainment arm, Fun Multiplex Pvt. Ltd.(FMPL), operates 76 screens across 17 cities. If INOX acquires Fun Cinemas, it will own 322 screens — PVR owns 351, and Big Cinemas and Cinepolis India have 253 and 44 screens, respectively.4
CCI rules out cartelization by multiplexes
The Competition Commission of India (CCI) has dismissed charges of cartelization against the Multiplex Association of India (MAI) and its abuse of its dominant position due to lack of evidence. The complaint was filed before the CCI by producers through the Film and Television Producers Guild of India (FTPGI), which alleged that MAI and its members force producers to accept the former’s terms and threaten them with dire consequences for not exhibiting their films in MAI’s multiplexes. Subsequently, FTPGI has decided to appeal to the Competition Appellate Tribunal (Compat), making allegations against film exhibitors on cartelization and abuse of their dominant position.5
1 Endemol, Eros International ink 50:50 content deal,” The Economic Times, 12 February 2013, via Factiva; “MSM enters film production biz; inks co-production deal with Eros,” Indiantelevision, 13 February 2013, via Factiva.
2PVR to invest INR1.5 billion to open 75 new screens in next one year,” Business Standard, 11 February 2013, via Factiva.
3“Yash Raj Films signs co-production deal with Dibaker Banerjee,” The Economic Times, 9 January 2013, via Factiva.
4“Inox Leisure in talks to buy out Essel Group's multiplex business,” Business Standard, 13 January 2013, via Factiva.
5“CCI rules out cartelization by multiplexes, “ The Economic Times, 9 January 2013, via Factiva ; “Film producers to move Compat against clean chit to multiplex union,” Financial Express, 15 January 2013, via Factiva.