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Our Bureau

Mumbai, May 19 Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, will provide development funds to eight leading creative forces in Hollywood.

Reliance Big Entertainment’s Chairman, Mr Amit Khanna, has announced separate development deals with Nicolas Cage’s Saturn Productions, Jim Carrey’s JC 23 Entertainment, George Clooney’s Smokehouse Productions, Chris Columbus’ 1492 Pictures, Tom Hanks’ Playtone Productions, Brad Pitt’s Plan B Entertainment, and Jay Roach’s Everyman Pictures.

The deals provide for the creation of a development silo for each of the production entities and the possibility of Reliance co-financing projects that emanate from these development deals. For any greenlit projects utilising Reliance co-financing, the filmmakers will enjoy full creative and fiscal freedom. For US studios, the Reliance Anil Dhirubhai Ambani Group provides a partner with expertise in India, one of the re-emerging global economic powerhouses.

Reliance Big Picture, the division of Reliance Big Entertainment that will focus on media investments outside of India, sees the development deals as the first major building block in the creation of a virtual studio, or new-generation media company. They are part of Reliance Entertainment’s long-term strategy for media investments in Hollywood, as it continues to build a fully integrated movie company with substantial holdings in production, distribution and exhibition.

The deals also secure Indian rights for resulting films that Reliance co-finances. Additionally, Reliance expects to attract suitable productions with appropriate incentives to India, where Reliance Entertainment is major film producer and owns physical studios and facility companies.

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