CANNES — Lionsgate and Eros Intl., the leading distributor of Indian movies, have set up a joint venture spanning distribution and production in India and North America.Initial aim of the alliance is to better exploit existing slates and library content and to put more volume through the two companies’ respective distribution networks. Production, likely to involve movies in the $10 million-$20 million range, will follow.
“This is a 50-50 deal because both sides are bringing great things to the table,” said Lionsgate CEO Jon Feltheimer.
“There are three good reasons to do this,” he continued. “We want to monetize our library and new film and TV content in better ways. Second, we want to monetize Eros’ properties in home entertainment in North America and together become a major aggregator of other people’s content and distribute library and formats in South Asia. Then, we also want to produce English- and Hindi-language movies together, both original and remakes.”
In addition, Lionsgate is committed to acquiring North America homevideo rights to 20 Eros titles, including “Eklavya: The Royal Guard” and “Gandhi My Father.”
Courtesy of Patrick Frater