PVR sells satellite rights of Shanghai for Rs 90 million

MUMBAI: PVR Cinemas has sold the satellite rights of its soon-to-be released Dibakar Banerji-helmed film Shanghai for Rs 90 million. But it has not declared as to whom the rights have been sold to.

When contacted PVR Group president Kamal Gyanchandani wanting to know the details of the rights, he desisted in giving information. "We will be coming out with the information soon," he said.

Shanghai is a political thriller based on the novel Z by Vassilis Vassilikos. It stars Emraan Hashmi, Abhay Deol, Kalki Koechlin, Prosenjit Chatterjee and Amin Raj.

Gyanchandani confirmed that the cost of production of Shanghai was Rs 125 million, while print and advertisement cost was Rs 80 million. He also confirmed that 20 per cent of the all India theatrical rights have been sold for Rs 40 million and music rights for Rs 27.6 million.

At this rate, PVR has to recover Rs 47.4 million from 80 per cent Indian theatrical rights, overseas rights and home video rights. "We are keeping our fingers crossed. Wait and watch," Gyanchandani observed.

The film is slated for release on 8 June.

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