MUMBAI: Fox Star Studios, a pan-Asian joint venture between Twentieth Century Fox and Star, has acquired the worldwide rights of My Name is Khan for a whopping Rs 1 billion.

Fox’s deal with Dharma Productions and Red Chillies, the makers of the movie, surpasses the earlier highest payout of Rs 900 million made by The Indian Film Company for the Aamir Khan-starrer Ghajini.

“This 100-crore deal will help build Fox Star Studios' presence in India and provide an opportunity to demonstrate our marketing and distribution skills. Since quite some time, we have been in talks for the rights of My Name is Khan. Karan and Shah Rukh Khan being the most successful combination in Bollywood, we are delighted to be working with them," Fox Star Studios CEO Vijay Singh tells Indiantelevision.com.

While Fox Star Studios will market and distribute the SRK-Kajol starrer in India, group company Fox Searchlight Pictures will release it in the US. Twentieth Century Fox International will distribute the Karan Johar-directed film in the other overseas markets.

Made on a Rs 550 million budget, My Name is Khan is set against the 9/11 terror attacks and its impact on an Indian Muslim living in the US.

All Karan Johar films were earlier distributed by Yash Raj Films. However, early this year, he signed a two-film distribution deal with UTV Motion Pictures for Wake Up! Sid and Qurbaan, reflecting the massive changes that are sweeping across the Indian film industry.

Fox Star Studios, which had earlier distributed Slumdog Millionaire in India, has charted out an aggressive growth plan in India.