The TV18 Group is floating a new film entity in the UK. The company – christened The Indian Film Company – will raise $110 million from London’s Alternative Investment Market. TV18’s holding company Network18 Fincap Ltd will pick up about 9 per cent in this entity by investing $10 million.
Business Standard quotes Raghav Bahl of TV18 group as saying that the new firm would acquire rights of at least 40 films a year. It will essentially market the acquired content via theatres in domestic and overseas markets, besides using other routes like satellite TV and DVD rights.
It will also finance films and enter into co-production tie-ups with directors. The company will have a “first rights” deal with Studio18, a TV18 group film production company. Sandeep Bhargava, CEO of Studio18, will head this new venture.
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