Mumbai: Producer – director Subhash Ghai and Eros Entertainment have sold the all India theatrical rights of Yuvvraaj to Shree Ashtavinayak Cine Vision.

When contacted by Businessofcinema.com, Eros Entertainment president Sunil Lulla denied the deal. "No such negotiations are on for Yuvvraaj," he said.

At the time of filing this story, Shree Ashtavinayak Cine Vision officials and Ghai’s spokesperson remained unavailable for comment.

Sources inform Businessofcinema.com that the deal has been struck. If industry sources are to be believed, it is said that a major reason for this transaction can be attributed to the heavy losses incurred by Eros throughout the year due to the unsuccessful run of their films. This in turn has led the company to sell its forthcoming film Yuvvraaj. Ghai is said to have been in the forefront of this negotiation.

The amount of this deal for all India theatrical rights could not ascertained. Eros will distribute Yuvvraaj in the overseas territory.

Yuvvraaj was a part of the five year distribution deal that Ghai’s Mukta Arts had struck with Eros in November last year. The India video rights are still with Mukta Arts and is not a part of the deal with Eros.

Before Yuvvraaj’s release, Eros also has Salman Khan, Sohail Khan, Sunny Deol, Bobby Deol and Preity Zinta starrer Heroes up for release on 24 October. "Currently, we are in the process of finalizing the release strategy for Heroes," Lulla said.

Yuvvraaj stars Salman Khan, Katrina Kaif, Anil Kapoor, Mithun Chakraborty, Boman Irani and Zayed Khan. It is slated for release on 21 November. Yuvvraaj is directed by Ghai and has music by A R Rahman.