Relativity Media and B4U form 50:50 JV; to invest $100 mn

US-based Relativity Media and Bollywood films and television network B4U have formed a 50:50 JV, and will invest USD 100 million to distribute entertainment and sports content in India.
The two will jointly invest around USD 100 million (about Rs 586 crore) in the Relativity B4U venture and leverage combined expertise, relationships and resources to create and distribute contents in digital platforms, television and film mediums, a statement said.
The JV will co-invest and distribute Bollywood film and television productions. It will also distribute Relativity's films in India, Pakistan, Sri Lanka, Bangladesh, Nepal and Bhutan, it added.
Relativity CEO Ryan Kavanaugh said: "This strategic partnership represents an exciting opportunity for Relativity to significantly expand our presence in this vibrant and growing marketplace while creating a bridge for developing and sharing content between Hollywood and Bollywood."

B4U CEO IshanSaksena said: "This joint venture is the natural step in our progression to build a creative film studio and unique technology platform. Our joint venture provides a platform to bring the best of Relativity's intellectual property, production skills, and unique monetising strategies to India, while also providing Indian talent access to global audiences."
The JV will be managed by IshanSaksena and overseen by a Board of Directors, in which both partners will appoint two nominees.

Relativity B4U will also co-finance, co-produce and distribute Indian language films and television shows, besides distributing third-party content in India and select Bollywood films in the US.

The JV will launch a new pay television channel in India focused on Hollywood content in both English and Hindi and a a digital streaming 'RelaTV'.
Los Angles-based Relativity is a studio engaged in film production, financing and distribution, television, sports management, music publishing and digital media. It has produced and distributed nearly 200 motion pictures.
B4U runs two Bollywood entertainment channels -- B4U Movies and B4U Music.