MUMBAI: In one of the biggest deals in recent times, Fox Star Studios has inked a nine-film deal with Karan Johar’s Dharma Productions.
As per the deal, which will run over the next three years, the two companies will jointly produce and distribute films, which will be helmed by directors like Johar, Ayan Mukerji and Karan Malhotra amongst others. The films are also likely to stars names like Ranbir Kapoor, Aishwarya Rai Bachchan, Shahid Kapoor and Alia Bhatt to name a few.
Under the terms of this deal, while some films will be co-produced by the two companies, others will be for distribution only.
Star India CEO Uday Shankar said, “The Indian film industry is an important market for us and this strategic partnership offers us an excellent opportunity to fundamentally change the content quality paradigm. This venture is the natural step in our progression to create entertaining and eclectic content for a global audience and to grow the business through game-changing innovation in content, marketing and distribution.”
Johar added, “Movies for me have always been a blend of artistic and commercial resources. Dharma Productions has always endeavored to attain the highest form of celluloid excellence and entertain simultaneously. I am glad we have found a partner in Star India and Fox Star Studios for a visionary nine films alliance. This partnership will not only be the coming together of two forces who understand the need of the cinematic hour but also work as a unit to increase the footfall strength at the movies and empower other verticals. It’s a new age of cinema and this association is a glorious reflection of the times.”
Fox Star Studios CEO Vijay Singh said, “This strategic alliance is path-breaking as it envisages the stakeholders pooling in their collective strengths and thereby chalking a new path for Bollywood, specifically in the way in which films are marketed and distributed. Consolidation through strategic alliances is the way forward in the film industry.”
Dharma Productions CEO Apoorva Mehta added, “It is by far the biggest collaboration that the Indian film Industry has ever seen. With this strategic deal, Dharma has entered into a new phase of movie business, which will provide a disruptive growth model for all the parties involved. This landmark decision will bring on board the most visionary and astute leaders together who will drive the overall strategy for making, promoting and distributing movies. I am happy to say that Dharma is excited and geared up for these new opportunities in the coming years and it definitely looks like the beginning of a game-changing era for the industry.”
