BOLLYWOOD’S HOLLYWOOD RESCUE
Steven Spielberg, Hollywood’s iconic film director’s cash strapped DreamWorks Studios will receive a lifeline of $825 million in financing for film production as part of a 50:50 joint-venture with India’s Anil Ambani founded Reliance Big Entertainment (RBE).
Of the $825 million, RBE’s parent company Reliance-Anil Dhirubhai Ambani Group (R-ADAG) will provide $325 million as equity infusion while The Walt Disney Company will table $175 million in distribution advance. Rest of the funding will come from the global financial services firm JP Morgan Chase & Co as debt.
The Indian Film industry popularly called ‘Bollywood’ that churns out the largest number of movies in the world, has welcomed global film production companies in to its fold including the U.S.-based Twentieth Century Fox Film Corporation, Warner Brother Entertainment, Inc., Viacom Inc., Sony Pictures Entertainment, Inc., among others in partnership deals with Indian counterparts for film production and distribution.
Renowned Indian actor Shahrukh Khan's Red Chilies Entertainment and director Karan Johar's Dharma Production's have recently entered in to a marketing and distribution deal worth more than $20 million with Oscar winning film Slumdog Millionaire’s fame Fox Star Studios, a joint venture between Twentieth Century Fox and the U.S.-based News Corporation’s Indian subsidiary Star India.
DreamWorks has required funds since it parted ways with the U.S.-based media conglomerate Viacom Inc’s Paramount Motion Pictures Group in September 2008. The financing deal will enable Spielberg to resume movie production, with the target to make five to six films per year. The first production is scheduled to start this year for release in 2010.
The Ambani-Spielberg joint-venture potentially elevates the fledgling $2 billion Indian movie entertainment sector growing at 9% compound annual growth rate (CAGR) to global scale with projects in the pipeline involving Hollywood stars George Clooney, Julia Roberts and Brad Pitt, among others.
RBE’s Holywood ambitions are not limited to DreamWorks only. BIG Pictures, owned by RBE, has plans to produce films with Nicolas Cage’s Saturn Productions, Jim Carrey’s JC 23 Entertainment, George Clooney’s Smokehouse Productions, Chris Columbus’ 1492 Pictures, Tom Hank’s Playtone Productions, Brad Pitt’s Plan B Entertainment, Jay Roach’s Everyman Pictures, Brett Ratner’s Rat Entertainment and Julia Roberts’ Red Om Films.
Showing posts with label Bollywood. Show all posts
Showing posts with label Bollywood. Show all posts
Thursday, August 13, 2009
Saturday, November 29, 2008
MUMBAI WILL EMERGE STRONGER
Mumbai, the commercial capital of India, comes under attack from terrorists yet again, at a time when the world’s second-fastest growing economy is seen by many analysts to be a critical part of the solution in fighting a global recession.
Mumbai is one of the world's top ten centres of commerce and contributes to about 5% of India's GDP and accounts for 25% of the industrial output, 40% of maritime trade, and 70% of capital transactions to the economy. Mumbai's per-capita income is Rs. 48,954 ($990) which is almost three times the national average.
“Mumbai is a very resilient city," says Bundeep Singh Rangar, Chairman, IndusView Advisors Ltd., the India-focused cross-border advisory firm. “Each time it’s been the target of a terrorist attack, it rebounds stronger and more resolute.”
Post the July 11, 2006 Mumbai train bombings, for example, as a show of investor confidence, the Bombay Stock Exchange (BSE) had rebounded, starting the day with the BSE Sensex Index up by nearly 1% in morning trade. Foreign investors also retained confidence, with the Sensex up almost 3% at 10,930.09 at the end of the day's trade.
India is set to register a strong growth of about 7.5% this financial year, a marginal drop from 9% that the country achieved last year when compared to emerging markets peer China that will drop to similar level from about 12% last year, its lowest since 1990, according to estimates.
This firm footing that the Indian economy finds itself in, has a lot to do with the contribution from Mumbai, its financial capital that brings 40% of foreign trade, 60% of customs duty collections, 40% of income tax collections, 20% of central excise tax collections, and Rs. 40,000 crore ($10 billion) in corporate taxes to the Indian economy.
This apart, the city hosts headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, the Mint, as well as the corporate headquarters of many large Indian companies – including the three largest private sector companies Reliance Industries, Tata Group and Aditya Birla Group – and numerous multinational corporations. Most of these offices are located in downtown South Mumbai which is the nerve centre of the Indian economy.
Strategic Industries
Mumbai is home to Bollywood, the largest film making industry in the world; the Bhabha Atomic Research Center, which will see its role gaining significance once the Indo-U.S. civil nuclear deal comes in to force. Other prominent industry sectors in the city include aerospace, optical engineering, medical research, information technology, computers and electronic equipment, shipbuilding and salvaging, renewable energy and power.
Mumbai, the commercial capital of India, comes under attack from terrorists yet again, at a time when the world’s second-fastest growing economy is seen by many analysts to be a critical part of the solution in fighting a global recession.
Mumbai is one of the world's top ten centres of commerce and contributes to about 5% of India's GDP and accounts for 25% of the industrial output, 40% of maritime trade, and 70% of capital transactions to the economy. Mumbai's per-capita income is Rs. 48,954 ($990) which is almost three times the national average.
“Mumbai is a very resilient city," says Bundeep Singh Rangar, Chairman, IndusView Advisors Ltd., the India-focused cross-border advisory firm. “Each time it’s been the target of a terrorist attack, it rebounds stronger and more resolute.”
Post the July 11, 2006 Mumbai train bombings, for example, as a show of investor confidence, the Bombay Stock Exchange (BSE) had rebounded, starting the day with the BSE Sensex Index up by nearly 1% in morning trade. Foreign investors also retained confidence, with the Sensex up almost 3% at 10,930.09 at the end of the day's trade.
India is set to register a strong growth of about 7.5% this financial year, a marginal drop from 9% that the country achieved last year when compared to emerging markets peer China that will drop to similar level from about 12% last year, its lowest since 1990, according to estimates.
This firm footing that the Indian economy finds itself in, has a lot to do with the contribution from Mumbai, its financial capital that brings 40% of foreign trade, 60% of customs duty collections, 40% of income tax collections, 20% of central excise tax collections, and Rs. 40,000 crore ($10 billion) in corporate taxes to the Indian economy.
This apart, the city hosts headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, the Mint, as well as the corporate headquarters of many large Indian companies – including the three largest private sector companies Reliance Industries, Tata Group and Aditya Birla Group – and numerous multinational corporations. Most of these offices are located in downtown South Mumbai which is the nerve centre of the Indian economy.
Strategic Industries
Mumbai is home to Bollywood, the largest film making industry in the world; the Bhabha Atomic Research Center, which will see its role gaining significance once the Indo-U.S. civil nuclear deal comes in to force. Other prominent industry sectors in the city include aerospace, optical engineering, medical research, information technology, computers and electronic equipment, shipbuilding and salvaging, renewable energy and power.
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