×
You will be redirected back to your article in seconds

India, U.K. firms team for music joint venture

CANNES – Indian entertainment group Vatsa and the U.K.-based TKO Magnum Group have sealed a joint venture that will see TKO manufacture and distribute Vatsa’s music product in the U.S. and Europe.

The joint venture, TKO/Vatsa Music Group, formally was announced at the Midem music market. For both companies, the move represents a significant entry into new territories. The new company’s startup budget is $50 million.

The formation of a large indie is a rarity in a global music industry in which most local players seek alliances with the big six major record companies. TKO CEO Howard Kruger said the joint venture “could be one of the last truly independent major global operations.”

Vatsa sells approximately 2 million cassettes per month across the Indian subcontinent. Vatsa CEO Ravi Burman described Indian music as “now selling everywhere,” adding that he would seek further deals at the Midem Asia market in May.

More Film

  • Miramax Developing 'I Won't Be Home

    Film News Roundup: Miramax Developing 'I Won't Be Home for Christmas'

    In today’s film news roundup, “I Won’t Be Home for Christmas” is in the works, the NFL has made a documentary about female team owners and D Street Pictures has signed Kenny Gage and Devon Downs to direct the dance feature “Move.” HOLIDAY PROJECT Miramax has acquired film rights to Lauren Iungerich’s holiday-themed screenplay “I [...]

  • Michael B. Jordan arrives at the

    Michael B. Jordan to Star in Warner Bros.' 'Methuselah' Movie

    Michael B. Jordan will produce and star in a “Methuselah” movie for Warner Bros., based on the Biblical story of a man who lived to be 969 years old. Jordan will produce through his Outlier Society production company along with Heyday’s David Heyman and Jeffrey Clifford. Warner Bros. has been developing the project for many [...]

  • Davids Chief Piera Detassis on Revamping

    Davids Chief Piera Detassis on Revamping Italy's Top Film Awards

    Piera Detassis recently became the first woman to head the David di Donatello Awards, Italy’s equivalent of the Oscars. Since then she’s been busy overhauling the inner workings of the prizes that will be awarded on Wednesday. Detassis, also the editor of Italian film publication Ciak, spoke exclusively to Variety about the challenges she’s faced [...]

  • Matteo Garrone's 'Dogman' Leads Davids Awards

    Matteo Garrone's 'Dogman' Leads Davids Awards Race

    With 15 nominations Matteo Garrone’s “Dogman” leads the pack of contenders for Italy’s David di Donatello Awards in a watershed year for the country’s top film nods that sees highbrow auteur titles reaping most of the David love just as local box-office grosses hit an all-time low. Garrone’s gritty revenge drama is followed closely with [...]

  • steven spielberg Apple TV Plus

    Steven Spielberg's Apple Appearance Riles Up Social Media: 'Big Old Mixed Message'

    Many Hollywood heavyweights flocked to Apple’s Cupertino, Calif. headquarters to help reveal the tech giant’s revamped steaming service Apple TV+ on Monday — but one such legend was so polarizing he became a national trending topic on Twitter for simply showing his face. Steven Spielberg was the first to appear in a dramatic short film [...]

  • Michael Lynne

    Former New Line Co-Chairman Michael Lynne Dies at 77

    Michael Lynne, the former co-chairman of New Line Cinema who played a key role in shepherding “The Lord of the Rings” trilogy, has died at his New York home. He was 77. Lynne’s death was confirmed Monday by longtime business partner Robert Shaye, who told Variety that Lynne’s family had informed him of Lynne’s passing [...]

  • Marisa Liston

    Sony Veteran Marisa Liston to Lead Lionsgate Movie Publicity

    Lionsgate has named Sony Pictures veteran executive Marisa Liston to lead all feature film and motion picture group publicity and communications strategy. Liston, who departed Sony in late 2018 after 17 years, has been assigned the newly created title of head of global earned media and communications. She will oversee domestic and international feature film [...]

More From Our Brands

Access exclusive content