UTV inks largest co-production deal with Hollywood studios

Mumbai, Aug 21 (UNI) UTV has announced an international co-production with leading Hollywood studios for a total investment of US dollars 37 million, touted as one of the the largest commitment by any South Asian media major.

Close on the heels of its tie-up with Walt Disney, UTV's new intiatives are billed as the largest co-production deal outside South Asia.

UTV will partner with Fox Searchlight on Chris Rock's movie 'I think I love My Wife'. It will also join hands with Hollywood actor Will Smith's Overbrook and Sony Pictures Entertainment on two movie deals, including one live action English feature and a CG (computer graphics) animation film, a UTV release issued here today said.

UTV and Fox Searchlight co-production's 'I think I love My Wife', starring Chris Rock, was announced by UTV's CEO Ronnie Screwvala and Fox Searchlight CEO Peter Rice in Los Angeles on August 18.

The principal photography of the film has been completed in New York and Fox Searchlight plans to release it in the US on February 9, next year. The USD 14 million production is UTV's second venture with Fox after 'The Namesake', directed by Mira Nair, which will be released in March, next year.

The second deal UTV announced is a USD 30 million co-production agreement with actor-producer Will Smith and his production company Overbrook Entertainment and Sony Pictures Entertainment, for films to be created and distributed worldwide. This was announced in New York on August 19 by Screwvala and Smith.

The two-picture deals emerged from a Sony arranged visit Smith and Lassiter took to India in February this year, to explore co-production possibilities, when they met with media titans and key members of the creative community. As a result of the co-production agreement, UTV and Overbrook will develop films that will have a global reach and appeal. The first two projects will be a live-action film valued at USD 10 million and a CG animated motion picture at USD 20 million.

Sony Pictures Entertainment (SPE) has a first look deal for the two productions. According to the terms of the agreement, while UTV and Overbrook will co-produce the movies, SPE will distribute the movies worldwide, excluding India.

''India is one of the most remarkable places on earth and its motion picture industry has always fascinated me,'' Smith said.

''This agreement is the future of our business,'' SPE group Chairman Amy Pascal said.

''We are particularly excited to have an animation project as part of this agreement since India is emerging as the next big destination for animation content and UTV is on the cutting-edge of animation development,'' Lassiter said.

Meanwhile, Screwvala said, ''UTV is focused on collaborating with like-minded partners like Fox, Sony and Will Smith to produce entertainment for global audiences. For UTV, these projects are a big step in reaching key North American markets and expanding our presence globally. UTV has made the biggest commitment by any South Asian media major to international co-productions and we will continue to lead the way in this regard.'' UNI MR GK SY KN1502