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| UTV earmarks Rs 900 cr for movie production |
| Press Trust of India / New Delhi Apr 29, 2009, 17:21 IST |
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Media and entertainment house UTV has earmarked around Rs 900 crore for its movie production venture, of which Rs 420 crore will be spent on about 35 Bollywood movies to be released over the next two years.
UTV Software Communications said that out of Rs 900 crore, Rs 230 crore has been earmarked for Hollywood movies and Rs 250 crore in inventories and for unexploited rights, like TV rights, video on demand (VOD) rights and pay per view (PPV) rights, of its released movies in 2008-09.
"About Rs 420 crore would be spent in over 35 movies on the floor or nearing release or in production, which represents the single largest slate investment by any movie studio in India at present, for release through 09-10 and 10-11," the company said.
The company plans to produce and release feature as well as animation films during the period.
Some of the feature films include Kaminey -- starring Shahid Kapur and Priyanka Chopra, Agyat -- a horror film by Ram Gopal Varma, Delhi Belly -- co-produced with Aamir Khan, Rajniti -- directed by Prakash Jha and starring Ajay Devgan, Hawal Dada -- co-produced with Disney, and remakes of A Wednesday in Tamil and Telugu.
Besides, the domestic movie industry, which produces highest number of films in a year in the world, UTV would also invest Rs 230 crore in producing Hollywood scripts, the cash flows of which have already been started, the company said.
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