MUMBAI: UTV Motion Pictures is planning to foray into the Telugu film industry. The company has taken its first step towards the same by acquiring the theatrical distribution rights of the Telugu film, Athiti starring superstar Mahesh Babu. The deal has been sealed for Rs 185 million (Rs 18.5 crores).
Confirming the same to Businessofcinema.com, UTV Software Communications CEO Ronnie Screwvala says, â€œYes we have bought the rights. The Telegu film industry is big, we do plan to step in but the strategies will be laid down next year. I canâ€™t commit on the figures as thatâ€™s not our policy.â€
According to sources close to the development, UTV has been planning a multi-film deal with Mahesh Babuâ€™s production house, either Krishna Production or Indira Pictures. While Babu will act in one of the films, others will be co-produced with UTV.
Screwvala says, â€œI canâ€™t say anything at this point of time. However, we do have a few announcements to make in the coming weeks.â€
A source close to the Telugu film industry adds, â€œNizam in Andhra Pradesh is a big market for Bollywood films, so UTV might be targeting that. They have leased a few theatres to test waters and screen films.â€
Warning: mysql_num_fields() expects parameter 1 to be resource, boolean given in /home/businessofcinema/public_html/wp-includes/wp-db.php on line 3083