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