Clooney, Tom Hanks and Brad Pitt signing rupee-spinning deals for big
movie collaborations," says an article in the Times Online. It is
interesting to see that India's economic growth is going beyond
traditional business and into the realm of movies, books and other
cultural areas.
"India produces more films than any other country, and sells more than
four billion cinema tickets a year, far more than in America. Now one
of its biggest companies is to become a significant Hollywood player,
it was announced yesterday in Cannes.
Reliance Big Entertainment, part of a $100 billion (£50 billion)
Indian conglomerate, is to invest in development funds for eight
production companies owned by Alist stars: they include Nicolas Cage's
Saturn Productions, Jim Carrey's JC 23 Entertainment, Clooney's
Smokehouse Productions, Hanks's Playtone Productions and Pitt's Plan B
Entertainment.
The Indian company, owned by Anil Ambani, ranked the world's
sixth-richest man in the Forbes list, is offering an initial $1
billion investment in Hollywood. It is a vital injection of cash for
the US studios at a time when equity financing has dried up with the
credit crunch. It also offers the Americans a foothold in India.
Amit Khanna, Reliance's chairman, said: "Reliance Entertainment has a
dominant position in India but, when it comes to motion pictures, it
has been obvious that we need to extend our footprint to Hollywood . .
.
"Bollywood is somehow personified by song and dance and Hollywood by
sex and violence, and there is this idea that neither can meet. We
don't believe this is true."
Bollywood in it's original form has been quite popular in many areas
outside India, and it's popularity is only increasing. Then there is
the whole concept of the "melting pot", where as this article
emphasizes Bollywood meets Hollywood to give birth to a new genre of
films that are already in the making.
Read the full article at --
http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/film/cannes/article3965523.ece
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