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.
Showing posts with label Yash Raj Films. Show all posts
Showing posts with label Yash Raj Films. Show all posts
Tuesday, June 19, 2007
Tuesday, June 12, 2007
Yash Raj Films, Blackstone JV likely
Filmmaker Yash Chopra is believed to be engaged in talks with private equity investor Blackstone to form a joint venture for movie exhibition initiative. The movie exhibition business will strengthen Yash Raj Films’ presence in the media and entertainment space.
Chopra is planning to buy single-screen theatres and convert them into multi-screen theatres, depending on their viability. The new business is unlikely to operate under the Yash Raj Films banner. An email query sent to Blackstone got no response.
Yash Raj Films, the production house owned by Chopra, has already acquired two properties in Mumbai, Bahar Cinema in Andheri and Capitol Cinema in south Mumbai, according to sources. The production house is also looking at other metros, including Kolkata, Ahmedabad, Hyderabad and Bangalore.
Read more in The Business Standard article.
Chopra is planning to buy single-screen theatres and convert them into multi-screen theatres, depending on their viability. The new business is unlikely to operate under the Yash Raj Films banner. An email query sent to Blackstone got no response.
Yash Raj Films, the production house owned by Chopra, has already acquired two properties in Mumbai, Bahar Cinema in Andheri and Capitol Cinema in south Mumbai, according to sources. The production house is also looking at other metros, including Kolkata, Ahmedabad, Hyderabad and Bangalore.
Read more in The Business Standard article.
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