Sanraa Media is entering into a Memorandum of Understanding (MoU) with WSG, USA to form Joint Venture company "Sanraa-WSG Films Inc" to be headquartered in Hollywood. The joint venture company will front end the Indian Studio in Hollywood and USA to work on global co-production deals for animation and VFX projects. The TV company will specialize on family entertainment based films, programs and animation projects.
The JV partners are already in advanced discussion for production & distribution of an international animation film with a very well known production house which is a very successful brand in hollywood. The JV in near future will also explore possibilities of overseas listing and tapping global market for additional funding opportunities.
It will also be converting live action films to stereoscopic films and each conversion will be budgeted at approximately $3-5 million per film.
The company expects to generate consolidated revenue of Rs 85 crore and net profit of Rs 15 crore for FY 2009-10.