It has signed a string of development deals with the production shingles of a stellar array of Hollywood's A-list talent. These include Nicolas Cage's Saturn Productions, Jim Carrey's JC 23 Entertainment, George Clooney's Smokehouse Productions, Chris Columbus' 1492 Pictures, Tom Hanks' Playtone Productions, Brad Pitt's Plan B Entertainment, and Jay Roach's Everyman Pictures.

The deals are described as "production silos" in which Reliance Big Entertainment provides development coin. These enable the talent to nurture or acquire movie projects before taking them to the studios with which they have first-look arrangements. In a second stage, deals allow Reliance to participate in up to 50% of the movie's subsequent production funding and to secure rights in India.

"We are totally respectful of the existing first-look deals that each of our partners enjoys, and are confident that the respective studios will welcome our development silos and our subsequent co-financing ability," said Rajesh Sawhney, prexy of Reliance Big Entertainment. "We are breaking completely new ground and not just as an Indian-based company."

Reliance Big Entertainment CEO, Amit Khanna said the silos will likely become involved with 30 projects in the next couple of years, of which at least 10 will go into production. Reliance execs and CAA reps, who brokered the deals, were at pains to explain that Reliance coin is supplementary to the stars first look deals, rather than alternatives.

"We will increase the speed and safety of the elevator, but the destination is still the top floor," said Khanna.

"We have great relations with the Hollywood studios. We already work with them in music, video distribution Indian theaters and through our Indian DTH platform, which is now in soft launch," he said.

Reliance will open offices in the U.S. to oversee its growing array of Stateside movie activities, which already include a 220-screen hardtop circuit and the digital imaging business recently acquired from DTS.

Company expects to avoid becoming simply the latest foreign financier to lose a fortune in Hollywood. It is not making corporate acquisitions and instead is allying itself at relatively low cost with key talent. "We don't seek glamour, or a place in the sun, we're coming to do business," Khanna said.

 Additionally, Reliance expects to attract suitable productions, with appropriate incentives, to India, where Reliance Entertainment one of the largest film producers and is owner of physical studios and facility companies.

Company was categorical that deals are not about backdoor expansion of Hollywood footprint in India.

"The Indian domestic market is distinct. A substantial number of Hollywood films are not directly (theatrically) distributed there," Sawhney said. "What we hope is that the pie will get bigger (for everyone) and that Hollywood sees more cash" from India.

Khanna said when it acquires Indian rights to films hatched in the silos there will be "fair pricing."

"This is an important day for global motion picture industry and the beginning of our foray into Hollywood and international cinema," he said. "Get used to it. There will be more deals to come."

Next deals are likely to include those with non CAA clients.

© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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