Has TIPS stopped acquiring music rights?: : Bollywood News

The most recent news doing the rounds of the industry is that Tips has decided against acquiring the music rights of any new film. This, according to sources, is because of the heavy losses the company incurred in RAHUL, whose music did not sell at all. What aggravated the situation further was the fact that the music industry is suddenly going through a low phase. But Ramesh Taurani brushed off the development as baseless when I questioned him about Tips latest stand. "Are tempting products being announced these days? No, they are not, which explains why we haven't acquired any film in the recent times. We did acquire D. Rama Naidu's film (starring Fardeen Khan) a few weeks ago, which proves that we haven't stopped buying films," he tells me. After a pause, he adds, "If we do come across films that, in our opinion, are viable propositions, we will definitely jump at the offer. But where are the announcements?"