Subhash Ghai’s Mukta Arts inks 37-film deal with Zee

Subhash Ghai-led Mukta Arts has entered into an agreement with Zee Entertainment for satellite and media rights of 37 films over six years.

An “assignment agreement and term sheet has been executed between the Company and Zee Entertainment Enterprises,” according to a regulatory filing by Mukta Arts, a PTI report from New Delhi stated yesterday.

This is for “assignment of Satellite and Media Rights of 37 Films of the Company for a limited period of 6 years commencing from August 25, 2027, for a total consideration of 25 per cent more as compared to previous agreement”, the filing added.

For the financial year ended on March 31, 2024, Mukta Arts’ revenue from operations was Rs 275.16 crore.

It produces content for TV and OTT and also operates a chain of multiplexes under Mukta A2 Cinemas.

The agreement comes at a time when content rights are more valuable than ever, especially in light of the OTT boom.

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RU Ediriwira, Group CTO, NXTDigital Limited

“With the launch of Partnership for Growth 3.0 we intend to expand our network with 40 new NXTHUBs, each offering up to 650 live TV channels and broadband. Our efforts are focused on harnessing the convergence of technologies, developing robust apps and creating new business models that will help the overall ecosystem, delivering the best experience to our subscribers. We hope to achieve a stronger foothold in the rural regions of the country and grow our subscriber base.”

N.K. Rouse, COO, NXT Digital Ltd

“One of the key principles of the Hinduja Group is ‘Partnership for Growth’. After 2.0 saw the launch of HITS to connect LMOs in even the most remote locations through the only satellite-based cable TV platform in India; 3.0 focuses not just on strengthening the overall ecosystem we have built, but harnessing the convergence of technologies – to be delivered through a national network of NXTHUBs. Video and broadband are only the beginning of the digital highway of services that we have developed for roll-out backed by a robust suite of innovative apps developed by service providers exclusively for our LMOs and subscribers.”

Vynsley Fernandes, MD & CEO, NXTDigital Limited

“Wireline broadband is becoming ever more important not only in connecting homes across the country but also small to large enterprises-to the digital economy. The NXTHUBs will be the perfect point-of-presence to offer broadband services to cater to these consumer needs.”

Yugal Kishore Sharma CEO, ONEOTT Intertainment Limited

Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!

Ashok Mansukhani, Corporate Law and Media Law Advocate at Ashokmansukhani Associates

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Subhash Ghai’s Mukta Arts inks 37-film deal with Zee

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