Viacom18 Motion Pictures and Paramount Pictures International form strategic business alliance.
BestMediaInfo Bureau | Delhi | May 19, 2011
Viacom18, a 50:50 joint venture between Network 18 and Viacom Inc. (NYSE: VIA and VIA.B) and Paramount Pictures International (a Viacom Company) have announced a strategic business alliance for India and the Indian sub-continent markets.
The alliance will see Viacom18 Motion Pictures distribute Paramountâs theatrical releases in India, Bangladesh and Sri Lanka beginning with one of Indiaâs most popular Hollywood franchises, TRANSFORMERS: DARK OF THE MOON directed by Michael Bay, which will be released on July 1st 2011.Â This will continue with Paramountâs forthcoming slate including SUPER 8, directed by JJ Abrams and produced by Steven Spielberg and MISSION IMPOSSIBLE 4, starring Tom Cruise and directed by Brad Bird.
The announcement was made by Haresh Chawla, Group CEO â Viacom 18, Andrew Cripps, President, Paramount Pictures International, and Vikram Malhotra, COO â Viacom 18 Motion Pictures.
Haresh Chawla, Group CEO â Viacom 18 said, "Filmed Entertainment is core to mass entertainment franchises, like Colors, that we are building at Viacom18. Viacom18 Motion Pictures has built up a very strong presence in the movies business in a short span of time and this strategic alliance with a global major like Paramount Pictures will open up myriad possibilities that will help us further strengthen our presence in this space"
Sharing his perspective on the strategic alliance, Andrew Cripps, President PPI said, âThis is a step change for Paramount in one of the fastest growing and most exciting markets internationally. Viacom 18 has positioned itself as one of the most impressive players locally in both distribution and production.Â We are very proud to be associated with them and look forward to continuing to grow and expand Paramountâs presence in India.â
Vikram Malhotra, COO â Viacom 18 Motion Pictures said, âParamount Picturesâ strong line-up and franchises and our domestic release slate is a lethal combination. Partnering with a global player like Paramount Pictures, weâre confident of Viacom18 Motion Pictures occupying a prominent position in the Indian entertainment industry.â
With an aim to significantly change the way Hollywood movies are marketed and distributed in India, Viacom18 Motion Pictures has already created an independent operating unit, within its division, which will handle the Paramount Pictures business.
Viacom18 Motion Picturesâ last release was âTanu weds Manuâ and is amongst the top-grossers of the year. Its forthcoming releases include â âPyaar ka Panchnamaâ (releasing on May 20th) and Anurag Kashyapâs âShaitanâ on June 10th. Only recently it roped-in the 'Dabangg' director Abhinav Kashyap for an untitled project.