G V Films bags Hollywood titles

Mumbai, May 10 (UNI) G V Films has announced a 43.56-million pound (Rs 175 crore) acquisition of around 8,000 Hollywood titles from Pinewood Films, an investment arm of a UK-based distributor.

On April 30, G V raised 40 million pounds through GDRs listed on the Luxembourg exchange to fund the acquisition. The process was managed by Zurich-based Bremer Bugmann Seiler Capital Partners AG and Bank of New York.

A company spokesman said the deal has been confirmed, while verification of the titles were currently on. The company, which has produced some of the biggest blockbusters in the South Indian film industry, said the deal covered the worldwide Internet, DVD and cinema rights, which featured Hollywood titles from the 1940s to the late 1970s.

Some of the notable titles in the library include Sherlock Holmes And The Secret Weapon (1943), Attack Of The Monster (1969), Murder On Flight 502 (1975), Clashes Of The Ninja (1986), Ghost (1963) and Murder With Music (1941).

The company spokesman said the impending acquisition would strengthen G Vs nascent web casting business, which already has rights for 6,000 Indian tittles. The first listed domestic entertainment company has ambitious plans for its web casting business along with the Studio City project, which involves setting up of multiplex, retail gallery and budget hotel across 23 locations.

G V has mainly been a production and distribution entity with Tamil blockbusters. The company also forayed into television production, with a 3D offering 'Mayavi', G V Films has also announced Bollywood foray by roping in directors like Anees Bazmee and Mahesh Manjrekar.

UNI