Reliance Entertainment, owned by Anil Ambani has reportedly partnered up with Anurag Kashyap’s Phantom Films for a 50:50 joint venture. According to the new partnership, Phantom Films will be taking care of the day-to-day business and Reliance Entertainment will own 50% of the business.
Filmmakers Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena initially started Phantom Films. After the venture, the four of them will equally own the share of the remaining 50% of the business. Reliance Entertainment and Phantom Films have entered into the deal with the hopes of producing around 6 films per year. Both the production houses have sold more than 170 to 175 films till date including some of the best selling films that have bagged the national award.
This is not the first time that Reliance Entertainment has become a part of such a joint venture. Internationally, the giant production house has partnered up with legendary filmmaker Steven Spielberg, in a 50:50 JV named Dreamworks Studios. Over the past few years Phantom Films have shown tremendous growth showcasing some of the best films ever made in Bollywood including the hit maker Queen released in 2014. Phantom Films has a total of 6 films slated to release in the next year. Some of the upcoming films produced by Phantom Films are NH10, Bombay Velvet andShaandaar.
The group-managing director of Reliance Entertainment, Amitabh Jhunjhunwala stated, “We are delighted to partner with such creative and talented individuals as Anurag, Madhu, Vikas and Vikramaditya, who have an enviable track record of creating great cinema. This partnership is in line with our evolving strategy in the media and entertainment business, of aligning with like-minded people who are trailblazers in their own field, and playing the role of supportive investors on our part.”
For ace director Anurag Kashyap this joint venture is a way leading towards international collaboration. The ambitious filmmaker who has given hits like Gangs Of Wasseypur, Ugly stated, “This deal opens our windows to international opportunities and talent. We hope to optimize on this opportunity, take Indian cinema international and also attract excellent talent into the country.”
Phantom Films co-owner Madhu Mantena stated in a recent interview, “It’s great to be appreciated by India’s leading entertainment company, and being given such a huge responsibility.” Reliance Entertainment did not disclose the financial details. An anonymous statement given by one of the company executive states that the financial details will be announced in the coming weeks.
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