Chennai, July 22 (IANS) Music and entertainment majors Sony BMG and Moser Baer have inked a major deal by buying three Tamil under-production ventures, publicists said here Tuesday.
The buying of the movies - 'Raman Thediya Seethai', 'Puthiya Vaarpugal' and 'Poo' - scheduled for release from August onwards, is the beginning of a great alliance, Moser Baer chief executive officer G. Dhananjayan said.
'This strategic tie-up between two companies that believe in developing the Tamil music market is an important step - ably justified by the singular success of Kamal Hassan starrer Dasavatharam's record-breaking sales,' added Sridhar Subramaniam, the head of Sony BMG, during an interaction with the press.
Though the details of the deal were not disclosed, the total outlay for the company's operations in south India is in the region of over Rs.250 million during the next two quarters, sources said.
The Rs.39 billion Moser Baer has diversified into various IT products and services including computer hardware, movies, downloads, software etc.