Ambani's Reliance to partner with Phantom for their films!

Shahid Kapoor's Udta Punjab to be Co-produced by Reliance Ent.

Shahid Kapoor - Alia Bhatt - Kareena Kapoor's Udta Pujab will be a co-production between Anil Ambani's Reliance Entertainment and Anurag Kashyap. Vikash Bahl's Phatom Films

Reliance will own 50% shareholding of the combined business, while the balance 50% will be equally held among the four promoters of Phantom Films. The day-to-day operations of the Joint Venture will be managed by Phantom Films.

Amitabh Jhunjhunwala, Group Managing Director, Reliance Group, said, "We are delighted to partner with such creative and talented individuals as Anurag, Madhu, Vikas and Vikramaditya, who have an enviable track record of creating great cinema. This partnership is in line with our evolving strategy in the media and entertainment business, of aligning with like-minded people who are trailblazers in their own field, and playing the role of supportive investors on our part."

Madhu Mantena said "It's great to be appreciated by India's leading entertainment company, and being given such a huge responsibility. We are overwhelmed with this partnership, and hope to do justice to it."

Vikas Bahl added, "This not only gives us partnership with people we look up to and want to learn from, it opens up our world of learning and access to people and infrastructure which was way beyond our imagination. We are confident we will make even better films thanks to this merger."

Anurag Kashyap said "This deal opens up our windows to international opportunities and talent. We hope to optimise on this opportunity and take Indian cinema international, and also attract excellent talent into the country."

Vikramaditya Motwane commented, "This partnership and the avenues it opens up to us give us the opportunity to take our movies to the next level in domestic as well as international cinema. We couldn't be more excited with this partnership."

Credits - Business Standard