Mumbai, March 8
In a significant pact, Anil
Ambani-owned Reliance Entertainment on Sunday announced that its film
production and distribution business in India will partner Phantom
Films, a company formed by four leading and young creative minds -
Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena.
The company said this will be a 50:50 joint venture to create a powerful new force in Indian cinema.
"The
combination of Reliance and Phantom Films plans to develop and produce
at least five-six films every year, apart from distribution of films in
India and overseas, and syndication of rights from the over 175 films
strong library," a Reliance statement said.
The proposed
combination will leverage the capabilities of the Phantom team, while
enjoying access to the domestic and international sales and distribution
infrastructure of Reliance Entertainment.
Such an access will
include the wide reach of IM Global, a Reliance Entertainment company
based in Los Angeles, with operations in North America, Britain and
Europe, Asia - Pacific, China, Latin America, etc.
Phantom Films
can also leverage the recently announced Reliance MediaWorks-Prime Focus
combination in digital, visual and special effects, pre- and
post-production and physical studio, with facilities in Mumbai, London,
Los Angeles and Vancouver -- including Double Negative, the
Britain-based digital and visual effects powerhouse, a two time Academy
Awards winner for its work in "Inception" and "Interstellar".
Amitabh
Jhunjhunwala, group managing director, Reliance Group, said: "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."
Vikas Bahl said: "This not only gives us
partnership with people we look up to and want to learn from, it opens
up our world of learning and access to people and infrastructure which
was way beyond our imagination."
Anurag Kashyap said: "This deal
opens up our windows to international opportunities and talent. We hope
to optimise on this opportunity and take Indian cinema international,
and also attract excellent talent into the country."
Reliance
Entertainment has produced, distributed and released more than 170 films
in multiple Indian languages, including successful commercial ones like
"Singham", "Singham Returns", "Bodyguard", "Don 2", "3 Idiots", "Singh
is King", "Sarkar", "Guru" and "Attarintiki Daaredi".
The
portfolio includes award winning films like "Paa", "Abohoman",
"Jaatishwar" and "Shob Choritra Kalponik" (Bengali), "Kutty Shrank"
(Malayalam) and "Ijjodu" (Kannada).
Internationally, Reliance
Entertainment has partnered for the past over five years with
producer-director Steven Spielberg in a 50:50 joint venture, Dreamworks
Studios, which has produced award winning and highly successful films.
"Known
for his high-concept film content, Anurag Kashyap has directed films
like 'Dev D', 'Gangs of Wasseypur', 'Black Friday', 'Ugly', and 'That
Girl in Yellow Boots', all of which were screened at Cannes Director's
Fortnight," the Reliance statement said.
Vikas Bahl has worked on
films like "No One Killed Jessica", "Aamir" and "Welcome to Sajjanpur".
His "Chillar Party" won the National Award in Best Children Film and
Best Screenplay.
In 2014, he directed "Queen" at Phantom Films,
which not only earned him numerous prestigious best director awards, but
also enjoyed commercial success in 2014.
A long time assistant
to Sanjay Leela Bhansali, Vikramaditya Motwane's first film "Udaan" was
selected to compete in the "Uncertain Regard" category at the 2010
Cannes Film Festival, and won seven Filmfare Awards. His last film
"Lootera" produced by Phantom Films also received substantial critical
acclaim.
Madhu Mantena debuted as a film producer with "Ghajini",
starring Aamir Khan, India's first 100 crore box office film. He has
also co-founded CAA Kwan, a talent management company, in partnership
with leading talent agency, CAA of the US, and Offroad Films, an ad film
production company.
Phantom Films has an impressive slate of six
films releasing over the next 12 months, including "Bombay Velvet"
starring Ranbir Kapoor, "NH 10" with Anushka Sharma, "Shandar" with
Shahid Kapoor and Alia Bhatt, "Udta Punjab" with Shahid Kapoor, Kareena
Kapoor and Alia Bhatt, "Hunterr" and "Ghoomketu".
