Reliance Industries and Yashraj Films, the makers of hits such as Kabhie Kabhie and Dilwale Dulhaniya Le Jayenge, are in talks for a joint venture to set up multiplexes, run entertainment channels and produce soap operas for television.
People close to the negotiations say that Reliance Retail, an associate of Reliance Industries, will float a new company where Yashraj Films will hold close to 26%. The new company will use the space provided by Reliance Retail’s gigantic malls to set up a chain of multiplexes across the country.
The Reliance group is believed to have committed over $50 million for the joint venture. “We are in talks with several players for new initiatives that we are currently evaluating. We have had talks with Mukesh Ambani as well, but there has been no outcome as yet,” Sanjeev Kohli, CEO, Yashraj Films, told ET. An email to Reliance Industries went unanswered but senior group officials confirmed the talks with Yashraj Films.
The move ties in well with Reliance Retail’s plans of setting up mega malls in urban centres, replete with an array of entertainment, food courts and other services. Yashraj Films, with domain expertise in entertainment, will be a formidable partner for Reliance.
Read more in The Economic Times article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment