UTV buys Race, Kismat Konnection for Rs 900 million

    MUMBAI: UTV Motion Pictures has acquired two latest flicks of Tips Films, Race and Kismat Konnection, for worldwide distribution. While the exact amount of the deal is not known, it is being said that the two movies have been acquired by UTV for approximately Rs 900 million (Rs 90 crores).

    This deal is not inclusive of music rights. The production company Tips, which also runs a music label, holds the music rights for both the movies. Tips also holds the IPR of both these movies.

    Race has been up for sale since September 2007. It is in January 2008 that the film finally made its way to UTV. Along with UTV, The Indian Film Company was also in negotiations with Tips for the distribution rights of the two films.

    The multi-starrer Race is directed by Abbas and Matstan and is an action thriller. It stars Saif Ali Khan, Akshaye Khanna, Anil Kapoor, Bipasha Basu, Katrina Kaif and Sameera Reddy. The film is likely to release in February or March. From the total amount of the deal, Race is said to be sold for Rs 600 million (Rs 60 crore).

    Kismat Konnection starring Shahid Kapur and Vidya Balan has been directed by Aziz Mirza. This film is said to have been sold for Rs 300 million (Rs 30 crores). The movie will release around April or June.

    The worldwide distribution rights of Kapur’s previous film Jab We Met, which was produced by Shree Ashtavinayak Cine Vision, was acquired by The Indian Film Company for Rs 200 million (Rs 20 crores).