Hollywood`s Relativity in tie-up for Bollywood arm
Los Angeles: Relativity Media, the producer and financier of such Hollywood films as "Wolfman", "Zombieland", "The Bounty Hunter" and "The Ugly Truth", has tied up with Gujarati-born investor Keyur Patel to set up a Bollywood arm based out of Mumbai.
Relativity Media India will engage in distribution, production and financing of films, television programmes and digital media content to expand the global presence of the Los Angeles-based parent company, the company`s statement here said.
The new company will handle the distribution of all releases of Relativity in India and also immediately begin acquiring English films from other Hollywood studios, producers and distributors to screen them across India.
"Relativity Media is also set to develop, produce and distribute local language content by partnering with some of India`s finest local talent," the company said, adding that it will not only remake international films in India but also create original content.
Patel will serve as the chairman and chief creative officer of the Indian arm and has already hired a team that includes 11 seasoned executives who will oversee marketing, distribution, finance, legal and creative aspects of the venture.
"With experience and intimate knowledge of the Indian market, coupled with Relativity`s creativity and access to the highest quality content, I believe Relativity Media India will quickly establish itself as one of the top studios," he said.
Fuse Capital, where Patel is a managing partner, has founded some half a dozen digital media companies and invested in some of the largest TV networks, films, and production studios globally, including NDTV and Aurora Networks.
It has over $1.5 billion of assets under management.
Patel himself has led turnarounds for major internet and consumer brands such as Inktomi and Maxtor, apart from incubating successful companies like Phoenix India, Brience, Metrius, Webvibe, Phoenix India, HIP Digital and Fabrik.
He holds a master`s in computer engineering from the Michigan Technological University and a bachelor`s in the same stream from the Gujarat University in Ahmedabad.
Relativity claims to have committed to producing and financing more than 200 studio-quality motion pictures through 2014. Its released films have accumulated more than $12.6 billion in worldwide box office revenue.
The group`s films have earned 43 Oscar nominations, including nods for "Nine", "A Serious Man", "Atonement" and "American Gangster", with 44 of its productions each generating over $100 million in worldwide Box Office receipts.
Its upcoming films include "MacGruber", "Fighter", "Robin Hood", "Get Him To The Greek", "Grown Ups", "Salt", "Nanny McPhee 2", "The Social Network" and "Sanctum".