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Asia Vision's exclusive licensee deal with Columbia Tristar to
distribute the Hollywood major's home video products in India ended
on 31 July. "We have been licensee holders of Columbia Tristar
for the past four years. The contract is not being renewed,"
says Shah.
Asia Vision has also stopped purchasing and selling cable TV rights
of movies. "The cable TV business is piracy driven. We decided
to get out of it. Asia Vision doesn't indulge in trading of movie
rights to the cable TV industry anymore," says Shah.
A few years back, the company had sold its 49 per cent stake in
Cable Video India Ltd (CVIL) to Hinduja TMT. CVIL, in which HTMT
already held 51 per cent stake, owned and operated CVO, a cable
Hindi movie channel.
Asia Vision has also stopped acquiring satellite and terrestrial
rights to movies. A major chunk of the library has been sold to
Zee Telefilms, Star India, Sahara, and Doordarshan. "We have
200-300 movies still remaining in the company. We plan to sell them
and exit," says Shah. Asia Vision had major activities in trading
on satellite and terrestrial rights of movies.
All these activities will be pursued individually by Time, Indus
and Bombino. Time Group continues to be involved in movie production
and acquisition of multiple TV rights of movies.
Asia Vision also runs commercial video copyrights under which it
issues movie licenses to video parlours across the country.
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