UTVM enters Telegu Films
03/09/2007 8:04am
RNS Non-Regulatory
UTV Motion Pictures PLC
03 September 2007
FOR IMMEDIATE RELEASE 3 September 2007
UTV Motion Pictures enters the Telegu film industry
o Signs Mahesh Babu, a leading Telegu actor, for two movies
o Acquires distribution rights for ATITHI, Mahesh Babu's next movie
o Signs two-movie co-production deal with Indira Productions
Mumbai: UTV Motion Pictures Plc (AIM: UTVM) ('UTVM' or the 'Company') is set to
establish a significant position in the South Indian film space with a slate of
film production and distribution deals in the US$57 million Telugu film
industry, India's second largest film market after Hindi films.
UTVM has signed Mahesh Babu, a leading Telegu actor, for two productions, the
first of which will go into production within the next six months. Mahesh Babu
is one of the most bankable stars in Andhra Pradesh. His last film POKIRI, in
which he played the lead, took US$15 million at the box office making it the
highest grossing film in the history of the Telugu film industry.
In addition to this, UTVM has signed a deal with Indira Productions, to
co-produce two films, one of which will star Mahesh Babu in the lead role.
UTVM also announced that it has acquired the Andhra Pradesh distribution rights
for one of the most awaited Telegu movies of 2007, ATITHI, starring Mahesh Babu
and Amrita Rao. The film is expected to be released in October 2007.
"This is the first time a corporate from the Hindi film industry is entering
the Telugu film space in such a big way" says G Ramesh Babu of Krishna
Productions Private Limited, Producer of ATITHI.
"With the great work UTV has done in Hindi films we are happy to get into an
agreement with them," says Manjula Sanjay Cota of Indira Productions. "UTV has
managed to bring about a structured corporate approach to filmmaking in the past
3-4 years. Initiatives like these have helped the Hindi film sector achieve
'industry' status and the Telugu film industry is sure to gain from UTV Motion
Pictures' expertise in this area."
Hitherto, corporates engaged in film distribution in Andhra Pradesh, had
restricted their buying to selected localised regions within Andhra Pradesh.
With movie-going being the major form of entertainment, Andhra Pradesh boasts of
the highest number of movie theatres in the country. It has 2700 theatres spread
across the state. Hyderabad alone has 150 theatres.
"After our foray into the Tamil film industry, with our first Tamil production
due for release in September 2007, we are happy to be making inroads into the
Telegu film industry with these production, distribution and artist deals.
Mahesh Babu is one of India's foremost superstars and our association with him,
as well as our co-production venture with Indira Productions coupled with our
distribution acquisition of ATITHI, gives us a great launch pad in this very
exciting market" notes Siddharth Roy Kapur, Chief Operating Officer, UTV Motion
Pictures Plc.
ENDS
CONTACTS
UTV Motion Pictures Plc +91 22 2495 2513
Siddharth Kapur - Chief Operating Officer
Grant Thornton (Nomad) +44 (20) 7383 5100
Fiona Owen
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRASSSFSESWSEFU