Mumbai:Prime Focus, the post production studio, after going public, had annonced massive entertainment plans like worldwide distribution network with various tie-ups and had plans to set up their own India Video section.
However, the news is that the public listed company has lost a good amount of money in their distribution section. The company had bought the entire video library of Hindi and English titles from filmmaker Babloo Pachisia. But within six months of operation, it has decided to shut shop.
The owners have lost money in it. According to a source from Prime Focus, ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œInstead of burning our fingers further, we have planned to shut the division. We have already sold our titles to Bombino.ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â he said.
This apart, it is learnt that the company has suddenly found itself in the red. It is thinking of closing their distribution concern in Orissa (in Eastern Circuit) and Andhra (Southern Circuit). In a span of six to eight months, the company is said to have lost in crores with five to six big releases starting from Omkara.
Meanwhile, Namit Malhotra of Prime Focus is said to have joined hands with Boney Kapoor for a big film. Boney Kapoor is also said to be making sequels of his earlier films Mr. India and No Entry. The earlier will feature Anil Kapoor, while the latter will have Salman Khan. He is also making an animated film.
It is waited to be seen if these projects will be co-ventured with Prime Focus and what wil be the stratergy moving forward. After trying their hands in distribution, will Prime Focus shift gears into production?