Multiplexes were the first to blink. Yashraj Films has signed a deal with four major plexes in Mumbai and Delhi agreeing to a higher cut of revs from today’s release of “Fanaa.”
While full terms were not disclosed, Mukta Arts’ Adlabs, PVR, Cinemax and Shringar Cinemas came to a compromise deal giving Yashraj 7% more of the revs, rather than the 10% it had sought.
Tushar Dhingra, chief operating officer of Adlabs Films, said, “We have decided to screen ‘Fanaa’ on mutually agreeable terms. Yashraj Films and Adlabs have shared a long-term relationship in the entertainment business, and ‘Fanaa’ is a highly anticipated movie.”
Other producers are waiting in the wings to try to ratchet up their deals, although exhibs said Thursday they wouldn’t extend the deal. They also said the compromise is for “Fanaa” only, and Yashraj will have to renegotiate for other films.
Pic will go out on 650 prints today, with a day-and-date release skedded for the U.S. and U.K.