Anil Ambani's Reliance Entertainment To Partner With Phantom Films

NEW DELHI: Anil Ambani-owned Reliance Entertainment today said its film production and distribution business will partner Phantom Films, a company formed by leading directors Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena.

The two will form a 50:50 joint venture to create a powerful new force in Indian cinema, Reliance Entertainment said in a statement issued here.

"The proposed combination will leverage the proven creative and production capabilities of the Phantom team, while enjoying access to the established domestic and international sales and distribution infrastructure of Reliance Entertainment," it said.

The Reliance Entertainment and Phantom Films joint venture plans to develop and produce at least 5 to 6 films every year, apart from distribution of films in India and overseas, and syndication of rights from the over 175 films strong library.

Reliance will own 50 per cent shareholding of the combined business, while the balance 50 per cent will be equally held among the four promoters of Phantom Films.

The day-to-day operations of the Joint Venture will be managed by Phantom Films.

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