The Hindu Business Line : PVR Pictures, Factory form joint venture

EXPANDING its film distribution business further, Delhi-based PVR Pictures has entered into a 50:50 joint venture with Verma Corporation Ltd/ K Sera Sera's production company, Factory.

The new venture, called PVR/Factory, will operate under the PVR Pictures entity and will have exclusive distribution rights in Delhi, Uttar Pradesh and Uttaranchal region for the upcoming films of Factory. Factory will produce and release nine movies in the next 18 months. The new company will also distribute films of other producers as well.

The agreement between the three entities envisages a profit sharing relationship between them on the distribution of a list of exciting films such as Ab Tak Chappan, Murder at 2 o'clock, Vishnu Prasad Gayab Ho Gaya, Darna Zaroori Hai, James, Vastu Shastra, Naach, Time Machine and D.

According to Mr Sanjeev Bijli, Director, PVR Pictures, "Since our entry into this field we have seen tremendous success with the English films; the move into Indian film distribution market was only natural. The company identified the partner keeping in mind that fact that Indian audiences are becoming increasingly discerning in their viewing demands.

"Verma Corporation Ltd/ K Sera Sera Productions Ltd with its creative head as Mr Ram Gopal Verma is amongst the leading production houses in the industry today and I am pleased to announce our partnership with them."

Ram Gopal Verma, Director, Verma Corporation Ltd in a statement said, "Partnering with PVR Pictures for the distribution of our films in the northern region was an easy choice. PVR Pictures brings along with it the knowhow and the experience and we are sure that this venture will be a successful one."

PVR Pictures is a subsidiary of the popular multiplex company, PVR Ltd and specialises in acquisition and local distribution of English language independent films across the country.

It has signed up with leading US production house Miramax to distribute some of its movies in India. The Factory was created when Verma Corp and K Sera Sera came together.

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