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Zee Tele weighs funding 15 movies every year

Rumi Dutta

Zee Telefilms, spurred by the success of its first Bollywood production Gadar, has chalked out aggressive plans for the business and is looking at producing 15 movies annually.

Senior executives at Zee said, "We are looking at producing around two big budget movies, 4-5 medium budget movies and 8-10 small budget movies in a year. The acquisition of Padmalaya Telefilms has brought home critical competence in film production and distribution."

Company officials, however, refused to divulge the investment earmarked for the purpose.

However, he said that the big, medium and small budget movies call for investments in the range of Rs 250-300 million, Rs 100-150 million and Rs 30-50 million, respectively.

The company, in a strategic move, recently acquired a 32.8 per cent stake in Hyderabad-based films producing and entertainment software creation major Padmalaya Telefilms at an investment of Rs 590 million.

According to analysts, Zee may transfer its film production division to Padmalaya Telefilms. Moreover, the company is at present back on the rails following serious restructuring measures undertaken by the management in recent times.

Currently, ZICA, the company's animation subsidiary, is set to release its mega project within a few months which will make it the first film production company to make the country's first live-cum-animation movie, Bhagwati after Who Framed Roger Rabbit and Space Jam.

Zee Telefilms, after a rough two year patch, appears to be on a comeback trail. Several of its serials are again moving up in the viewership ratings.

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