Producers-multiplexes closer to resolving standoff

Producers-multiplexes closer to resolving standoff
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First Published: Thu, Jun 04 2009. 11 55 PM IST
Updated: Thu, Jun 04 2009. 11 55 PM IST
Mumbai: The standoff between multiplexes and production houses that has seen all new releases held back for the last two months came a step closer to resolution on Thursday night after BIG Cinemas signed a deal to end the deadlock with production houses.
The chain, a division of Reliance Entertainment, has agreed a series of terms with production houses, which includes how box office takings will be divided between the parties, as well as an agreement to give control over release strategies to the production houses.
The cinema chain broke away from peers including PVR, INOX Leisure, Fame India, Cinemax and Fun Cinemas to sign the deal.
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First Published: Thu, Jun 04 2009. 11 55 PM IST