| The initial offer from Adlabs was for a 25 per cent
stake in Entertainment One, says a senior official in Sahara. This
was later revised to 33 per cent. "But we felt it did not make
business sense for us and decided to call it off last week,"
he adds.
The deal had run into rough weather after Entertainment One had
part-funded 1857: The Rising, a mega movie project. Subrato
Roy's media conglomerate had disassociated itself from the project
after noted actress and "Sahara council director" Aishwarya
Rai was dropped from the film. Adlabs then agreed for a fresh valuation,
as the proposed deal would exclude The Rising.
Entertainment One has two movies on the floors and has lined up
three more. The average budget of each movie is Rs 7-8 crore (70-80
million)," says Shetty. The company plans to be involved in
five movies a year.
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