India’s Zee Cinema has signed a first look deal with Indian Media Entertainment Network (IMEN) to co-produce action hybrid films and also acquire international action films for Zee’s numerous platforms. No titles have been announced yet.
The move is part of the Zee group’s expanded international push. The company recently revealed plans of producing low-budget, English-language films. Initial titles include “Open 24 Hours,” “Daddy’s Girl,” and “Dark Light.”
Zee is also expanding the reach of its VoD platform Zee5. On Wednesday, Zee5 became available across Asia Pacific, Africa, and the Middle East, with Europe, Canada and the Caribbean next on the list. Zee operates 66 linear television channels across 171 countries.
The Essel Group, which owns a 42% stake in Zee, is currently conducting a strategic review of its holding in the company and is likely to sell half its stake to a market leader in the global media and entertainment space, the company revealed on Tuesday. Zee’s market valuation is currently $5.8 billion.
“India has several major film industries and action films is the most consumed genre across the country. We believe talent exists everywhere and it is our job to connect the best with the best,” IMEN CEO, Nilesh Sahay, said. IMEN also has interests in visual effects and graphic novels and curates an action movie database.
“There is a definite affinity towards the action genre and the collaboration with IMEN will delight our viewers with an acquisition of specially curated library of action films from across the globe,” said Ruchir Tiwari, business head, Zee Hindi movies cluster.