UTV Motion Pictures ventures into Hollywood

UTV Motion Pictures has signed a foreign sales deal with Madrid-based film sales company 6 SALES, for the Heather Graham starrer, ExTerminators. UTV through its foreign sales partner has already inked deals for Romania, Benulux and Middle Eastern territories. The movie, directed by John Inwood, stars Heather Graham, Jennifer Coolidge and Amber Heard. It is a dark comedy about Alex (Graham), a lonely accountant whose sole act of rage results in her being sentenced to court mandated rage therapy. There she meets Stella (Coolidge), the owner of a small extermination business who uses her car as a weapon; and Nikki (Heard), a dental technician with the face of an angel and the mind of a sociopath. Together these unlikely friends form their own 'silent revolution'. Commenting on the deal, Lokesh Dhar, Vice-President, UTV Motion Pictures, USA said, "With Exterminators, we look forward to strengthening our base in the international markets. After our international co-productions such as The Namesake, I think I Love My Wife and The Happening, ExTerminators is UTV's first independent production in the US and is definitely a landmark for us, as well as the Indian film industry." "The public's response is exactly what we had hoped for: uncontrollable laughter," said Marina Fuentes, 6 SALES partner. "We believe this type of movie is what the audiences are looking for. Good fun entertainment, " she added. The film premiered at SXSW (South by South West) festival in Austin, one of the top film festivals in the US to packed theatres.

Source: Moneycontrol

Walt Disney to Hike stake in UTVi

UTV Software Communications, in which Walt Disney Company holds a majority stake, is planning to increase its shareholding from 20 to 49% in a Special Purpose Vehicle (SPV) that owns and controls the business news channel UTVi. Walt Disney currently holds 59.9% in publicly-listed UTV Software Communications, in which Ronnie Screwvala holds 23% and the rest lies with the public. UTV Software Communications, in turn, holds 20% in an SPV that owns UTVi. Screwvala and associates hold the rest. Because of Walt Disney’s majority holding in UTV Software Communications, the company is considered a foreign company under the pre-2009 FDI guidelines, so the SPV will be considered a foreign-owned company. The proposal, which was made at a UTV board meeting on Friday, would effectively mean that, on a pro-rata basis, Walt Disney’s stake in the SPV would go up to 29%