Multiplexes, producers reach deal; strike ends

New releases from June 12; First week revenue sharing to be 50:50

For the past two months, the Bollywood producers were not releasing films owing to the standoff with multiplexes, which were pocketing larger share of profits. The producers were demanding 50 : 50 per cent sharing, but were rebuffed continuously.
Multiplex owners were insisting that they will give only 45 per cent of the revenue, and will increase it to 50 per cent only if a film is a hit at the box office.
The producers then went on strike from April 4 and the multiplexes too followed suit by screening new releases, causing enormous loss to the film industry. The last ditch effort to end the strike began on Thursday night and the meeting between the producers and the multiplex owners was drawn into early morning hours. It culminated in the multiplexes agreeing to the demand of the producers for sharing equal revenue in the first week of the release, film industry sources said.
Filmmaker Mukesh Bhatt confirmed the end of the strike. “Yes, the strike is over,” he said. The producers will be releasing their films soon, he added. He did not give further details of the deal hammered out in the meeting.

Verbally agreed

From the side of multiplexes, the representatives of Big Cinema, Fame Cinema, Cinemax, Fun Republic, Inox and PVR agreed verbally to end their strike and begin screening the films.  According to Big Cinemas’ chief operating officer Tushar Dhingra, the “strike is over.”  It is learnt that the multiplex owners would pay 50:50 profit sharing in the first week of the film’s release, 42.5 ratio in the second week and 37.5 per cent in the third week.
 With the strike called off, many films will now queue up for release, the biggies among them being ‘Kal Kisne Dekha’, ‘Kambhakt Ishq’, ‘Kaminey’, ‘New York’, ‘Love Aaj Kal’ and ‘Luck’.  The first to hit the screen will be ‘Kal Kisne Dekha’ on June 12. The film will launch Vashu Bhagnani’s son Jaccky and Manmohan Desai’s grand-niece, Vaishali.
 ‘Paying Guest’ will be released on June 19. The film stars Shreyas Talpade, Jaaved Jaffrey, Johnny Lever, Celina Jaitley, Riya Sen, Neha Dhupia, Vatsal Seth, Chunky Pandey, Aashish Chaudhary and Sayali Bhagat, and is directed by first-timer Paritosh Painter.  ‘New York’ will be released on June 26. The Yash Raj film stars John Abraham, Neil Nitin Mukesh and Katrina Kaif and directed by Kabul Express maker Kabir Khan.

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