Relativity Media, a media company, and B4U, a Bollywood film and television network, have formed a joint venture to create and distribute entertainment and sports content in India. The aim is to span a variety of mediums including film, television and digital.

Major shareholders of B4U television network include Lakshmi Mittal, Kishore Lulla and Gokul Binani. Though terms of the transaction were not disclosed, the joint venture would have an investment of approximately $100 million available for projects. The joint venture is to be managed by B4U Chief Executive Officer Ishan Saksena and would be overseen by a board of directors, to which both companies would appoint two directors.

Growth potential

Capitalising on the significant growth potential of the Indian film and television markets, which are expected to reach revenues of ₹19,330 crore ($3.5 billion) and ₹84,800 crore ($15.3 billion) by 2017, respectively, the joint venture aims to provide a platform for both Relativity and B4U to co-invest and distribute local Bollywood films and television productions.

The joint venture would also distribute and market Relativity’s films, beginning with the romantic drama The Best of Me , in India, Pakistan, Sri Lanka, Bangladesh, Nepal and Bhutan.

“The strategic partnership represents an exciting opportunity for Relativity to significantly expand its presence in the vibrant and growing marketplace (of India), while creating a bridge for developing and sharing content between Hollywood and Bollywood,” said Ryan Kavanaugh, CEO of Relativity, in a statement.

Ishan Saksena, CEO of B4U said: “B4U has been at the helm for delivering Bollywood content in India and internationally. The joint venture with Relativity is a natural step in our progression to build a creative film studio and a unique technology platform.”

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