GV Films to setup Studio City, buys rights for 8000 movies

Televisionpoint.com Correspondent
GV Films, one of the frontline brands in Tamil movie industry currently struggling with a string of low profile productions, has discussed and considered the proposal to join hands with Shanghai Film Group Corporation of Shanghai Media and Entertainment Group (SMEG) and Growth Global, UK to develop the concept of GV Studio City which is an integrated complex of multiplex, shopping malls, hotels and entertainment parks, in the main cities of Shanghai and China.

The company has informed the BSE that, SMEG is responsible for the operations of its 9 subsidiaries, the Shanghai Media Group, Shanghai Film Group, Oriental Pearl, SME Performing Arts Center, the SMEG Special Events Office, and Shanghai Media & Entertainment Industry, as well as STR International Holdings and Shanghai Film Archives. The Company has assets in excess of $ 1.34 bn with about 5,000 employees. It is engaged in live performance, exhibitions, tourism and hotels, traditional and newly developing media technologies including TV, film, radio, broadband internet, mobile entertainment and print media.

GV Films has also discussed the proposal for acquiring films rights for 8000 Hollywood movies and has negotiated a price at $ 43.56 mn, and have decided to acquire the content. These contents along with the existing contents of 5600 regional films is expected to help GV Films in a big way in their web casting division.

Meanwhile, according to sources, GV Films has also struck a contract with a leading south Indian versatile Madhavan, for three ventures. With this, GV, credited with some of the biggest blockbusters in the 80s and 90s, is signing up with an established actor after a long hiatus.

The three Tamil films with Madhavan, popularly known as Maddy, will roll out under mutually acceptable directors during 2007-08. It is learnt that two of these productions, which would be outright commercial ventures, are slated to hit screens this year. The country's first listed entertainment company also said it has signed up director Anees Bamzee for its Hindi foray set for later this year. The film titled 'Once More' will be Bamzee's directorial venture after last year's hit 'No Entry'. The production is expected to be in the same genre as 'No Entry'. Sources said the star cast would probably include Sunny Deol, Vidya Balan and Arshad Warsi.