Relativity Media, B4U announce $100 million joint venture in India
Relativity Media and B4U, one of the world's leading Bollywood television networks have struck a 100 million dollar joint venture to produce entertainment and sports content to be distributed across numerous platforms.
According to The Hollywood Reporter, teaming with B4U gives Ryan Kavanaugh's Los Angeles-based company access to one of the world's most lucrative markets, both for its own films and Hindi-language co-productions, including a remake of the untitled Owen Wilson, Zach Galifianakis armored car comedy.
By 2017, Relativity is expecting an estimated revenue rise of 3.5 billion dollars and 15.3 billion dollars in the Indian film and television markets respectively.
While announcing the deal at the Cannes Film Festival, Kavanaugh said that this strategic partnership represents an exciting opportunity for Relativity to significantly expand its presence in this vibrant and growing marketplace while creating a bridge for developing and sharing content between Hollywood and Bollywood.
Meanwhile, B4U CEO Ishan Saksena said that B4U has always been at the helm for delivering Bollywood content in India and internationally, therefore, this joint venture with Relativity is the natural step in its progression to build a creative film studio and unique technology platform.
(Posted on 18-05-2014)