Reliance BIG Enteritanment is on a deal spree.
After signing a Hollywood deal with production houses like Nicolas Cage’s Saturn Productions, Jim Carrey’s JC 23 Entertainment, George Clooney’s Smokehouse Productions, Chris Columbus’s 1492 Pictures, Tom Hanks’s Playtone Productions, Brad Pitt’s Plan B Entertainment and Jay Roach’s Everyman Pictures that will yield up to 30 scripts (i.e. ~10 movies) in the next two years, RBE is also signing up Bollywood production deals.
In the US, the media and entertainment sector accounts for 10% of the GDP. The global average is around 6-7%. In India, the sector accounts for a mere 3-4% of the GDP. Clearly, it’s an opportunity that has not been exploited yet.[source]
RBE has announced a deal to co-produce five films with Vashu Bhagnani’s production company Puja Films for the next two years.
Reliance Entertainment (which includes Zapak, BigFlicks, BigAdda, JumpGames, Anirights, Big Music and Big Movies) has been valued at $3bn (recently received $100mn from George Soros).
The co. has also been looking to raise $500mn from PE funds (US-based private equity fund Kohlberg Kravis Roberts & Company (KKR), billionaire investor Carl Icahn, Japan’s Softbank and Abu Dhabi Investment Authority) for divestment of 10% equity (post-George Soros’ investment).