UTV Software signs syndication deals worth Rs707.5 million
The firm also plans to release 10-12 movies in this fiscal, it said. It will derisk its investment through pre sales of upto 50% of the cost of production for about 8-10 of them.
UTV Software Communications Ltd said on Wednesday its motion pictures division has signed syndication deals worth Rs707.5 million with satellite broadcasters and two music companies.The syndication deals will include satellite television rights for three upcoming movies and audio rights for four movies, it said in a statement to the exchange.The firm also plans to release 10-12 movies in this fiscal, it said. It will derisk its investment through pre sales of upto 50% of the cost of production for about 8-10 of them, it added.At 9.54am, shares of the firm traded 0.18% down at Rs112.3 in a weak Mumbai market.