The business acumen of the business tycoon Anil Ambani and his vision when it comes to mergers and acquisitions is well known by one and all. This time round, his company’s entertainment arm Reliance Entertainment’s film production and distribution business in India will be seen partnering with the boutique production house Phantom Films in a 50:50 joint venture.
The equation of the deal will be that, Reliance will be owning 50 per cent of the combined business and the remaining half will be equally held amongst the four promoters of Phantom Films (Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena). In addition to this, Phantom Films will also be managing the day-to-day operations of the joint venture. Reliance and Phantom have plans to develop and produce around 5-6 films a year, besides the distribution of films in India and abroad and the syndication of rights from its 175- films library.
Speaking about this partnership, Amitabh Jhunjhunwala (Group Managing Director- Reliance Group), said, “We are delighted to partner with such creative and talented individuals as Anurag, Madhu, Vikas and Vikramaditya, who have an enviable track record of creating great cinema. This partnership is in line with our evolving strategy in the media and entertainment business, of aligning with like-minded people who are trailblazers in their own field, and playing the role of supportive investors on our part.” Meanwhile, Madhu Mantena, on his part, said “It’s great to be appreciated by India’s leading entertainment company, and being given such a huge responsibility. We are overwhelmed with this partnership, and hope to do justice to it.” Vikas Bahl added, “This not only gives us partnership with people we look up to and want to learn from, it opens up our world of learning and access to people and infrastructure which was way beyond our imagination. We are confident we will make even better films thanks to this merger.” Additionally, Anurag Kashyap said, “This deal opens up our windows to international opportunities and talent. We hope to optimize on this opportunity and take Indian cinema international, and also attract excellent talent into the country.” On the other hand, Vikramaditya Motwane commented, “This partnership and the avenues it opens up to us, give us the opportunity to take our movies to the next level in domestic as well as international cinema. We couldn’t be more excited with this partnership.”