Zeel acquires satellite rights of 35 Mukta Arts' films for Rs 250 mn

MUMBAI: Subhash Ghai-promoted Mukta Arts has assigned satellite and other electronic rights of its 35 films to Zee Entertainment Enterprises Limited (Zeel) for five years.

Zeel will pay Rs 250 million for the bulk movie purchase deal. The entire amount will be coughed out during the calendar year 2013.

For some of the films, the satellite rights are held by other broadcasters but are in the process of ending their screening window. For these movies, Zeel will be assigned the satellite telecast rights after the term expires.

Mukta Arts said Monday the revenue from the deal with Zeel will be recognised in the Profit & Loss account of the company based on the dates on which the rights commence for each film.

Mukta Arts has produced films like Karz, Hero, Karma, Ram Lakhan, Saudagar, Khalnayak, Pardes, Taal and Yaadein besides some memorable titles like Jogger?s Park, Aitraaz, Iqbal and their most recent Black & White. The company has also produced regional films including Nouka Dubi (Bengali) and Sanai Chaughade (Marathi).

In 2010, Mukta Arts had signed a Rs 200 million deal with Zeel for the satellite rights of its 29 films for five years.