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UTV go intl' with Rs. 1,719,545,518 deal!!!

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Courtesy: IndiaFM
Monday, August 21, 2006
UTV has now planned to go international. The production house has signed up deals with International production houses like Fox Searchlight, Will Smith's Overbrook and Sony Pictures for a total commitment of $ 37 million. This is the largest Co-Production deal out of South Asia as of yet. In a deal with Fox Searchlight, UTV has announced a co-production of the film I Think I Love My Wife, starring Chris Rock. Ronnie Screwvala, CEO of UTV Motion Pictures and Peter Rice, CEO of Fox Searchlight announced this in Los Angeles on Friday.

The second deal UTV announced is a $ 30 million co-production agreement with actor/producer Will Smith and his production company Overbrook Entertainment and Sony Pictures Entertainment, for films to be created and distributed worldwide. This was announced in New York on Saturday by Ronnie Screwvala, Will Smith, James Lassiter, Smith's partner at Overbrook Entertainment and Amy Pascal, Chairman of the Sony Pictures Entertainment Motion Picture Group. The two-picture deal emerged from a Sony arranged visit Smith and Lassiter took to India in February 2006 to explore co-production possibilities, when they met with media titans and key members of the creative community.

"India is one of the most remarkable places on Earth and its motion picture industry has always fascinated me", said Will Smith. Ronnie Screwvala, CEO of UTV states: "UTV is focused on collaborating with like-minded partners like Fox, Sony and Will Smith to produce entertainment for global audiences. For UTV, these projects are a big step in reaching key North American markets and expanding our presence globally. UTV has made the biggest commitment by any South Asian media major to international co-productions and we will continue to lead the way in this regard."

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