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Prime VIP
Hindi channel, Colors has bought the exclusive telecast rights of box office dud 'Kites' and will screen the movie later this month, just weeks after its theatrical release.
Colors has also acquired the rights of the yet unreleased movie 'Raavan', which hits cinemas on Friday 18th June. However, the deal, which was done prior to 'Kites' release, has sparked further renegotiating of the deal due to the poor box office run of the Hrithik Roshan and Barbar Mori starer.
Confirming the news, a source told a daily, "The channel had acquired the rights of both the films ('Kites' and 'Raavan') for Rs 54 crore. The rights are for seven years. The deal was sealed even before 'Kites' had released, when the buzz about the film seemed to promise a blockbuster. But the disappointing collections at the box office and the tepid viewer response not only shocked the film industry and trade in general, it also diluted the worth of the satellite rights of the film."
"The channel apparently renegotiated the deal. It is now worth Rs 40 crore —a clear loss of Rs 14 crore to Big Pictures. Big Pictures even sweetened the revised terms by throwing in a few more films," adds the source.
'Kites' will be at the end of this month, barely a month after its cinema release. Colors has also reportedly acquired the rights of 'Rajneeti' and may show it on the channel next month.
