GV Films Plans To Sell Webcasting Division Including Internet Rights To Films

Indiantelevision.com: Chennai-based GV Films Ltd. plans to sell its webcasting division including rights to 6000 movies. The price is reportedly Rs 1 billion ($22 million). It had signed an MoU with I-Net Singapore to web stream movies. GV Films had bought internet rights to 4000 Hindi films and 2000 movies in Telugu, Tamil, Malayalam and Kannada languages for Rs 900 million. It now wants to focus on building multiplexes, instead. The company also plans to raise $300 million from overseas markets.

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