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Story Updated: 11.35 pm
MUMBAI: Talks have gone back to square one between Sony Pictures Releasing of India and multiplexes over Angels & Demons. Hence the movie will not hit multiplex screens tomorrow.
The parties had almost reached a consensus, wherein all multiplex chains were slated to release the movie across their properties tomorrow (29 May). However, the revenue sharing terms for the movie had not been decided upon.
The latest development is that Sony Pictures wants a clear commitment from multiplexes with the first and second week terms being 55 and 50. However, multiplexes do not concur with these terms.
What had earlier been decided was that the movie will release in multiplexes without any terms being decided. The terms were supposed to be decided after the movie ran in theatres for a period of two weeks. "We also believe that the strike between multiplexes and Hindi film producers and distributors will get resolved by then. Hence the terms for Angels & Demons will be decided upon after that," a source informed prior to the latest development.
However, in case the two parties were unable to reach a consensus within two weeks, the revenue sharing terms for Angels & Demons will be nevertheless decided. "If the strike is not resolved after two weeks then we will decide on revenue sharing terms accordingly. But the multiplexes are clear that the terms will not be more than 50 per cent in the first week," the source had added.
As was first reported by Businessofcinema.com, Sony Pictures was asking for revenue sharing terms of 55, 50, 45, 40 for the first four weeks.
Additionally, since there wasn’t going to be any billing for Sony in the first two weeks, multiplex chains had agreed to pay upfront advance money for Angels & Demons, which has never been the case before for English films.
However, now all negotiations have gone kaput.
