All deals provide for the creation of a development silo for each of the production entities and the possibility of Reliance co-financing projects that emanate from these development deals. For any green lit projects utilizing Reliance co-financing, the filmmakers will enjoy creative and fiscal freedom.
Eight of the partnerships have had development projects approved and there is already a handpicked slate in excess of 20 projects and it is anticipated that most will generate content during 2009.
Reliance Big Entertainment chairman Amit Khanna said, "Our innovative foray into Hollywood has proven very productive on the development front and we are now looking forward to moving into the filmmaking stage over the coming months. We were immediately impressed by both Julia’s and Brett’s enthusiasm for our creative partnership plan."
Reliance Big Entertainment president Rajesh Sawhney added, "These creative partnerships will lead to Reliance co-financing with the majority of the major US Studios as we are totally respectful of the existing first-look deals that each of our partners enjoys. From the conversations to date, we know that the respective studios will welcome our development silos and our subsequent co-financing ability. We have broken completely new ground by empowering some of the best talent in the global industry."
The deals also secure Indian rights for the films which Reliance co-finances.
Creative Artists Agency (CAA) was instrumental in brokering the deals and is advising Reliance Big Entertainment on its Hollywood strategy.
