Universal Studios acquires minority stake in Farhan Akhtar's Excel Entertainment
What's the story
Hollywood behemoth Universal Studios, a subsidiary of the American firm Comcast Corporation, has acquired a minority stake in Farhan Akhtar and Ritesh Sidhwani's production house Excel Entertainment. This partnership aims to bolster Indian productions and comes over a year after Adar Poonawalla bought a 50% stake in Karan Johar's Dharma Productions. Excel's deal was confirmed to Mid-Day by sources privy to the development.
Strategic move
Universal Studios aims to strengthen its presence in India
According to insiders, Universal Studios has acquired a minority stake in Excel Entertainment while the latter retains a larger share. "The talks between the two have been going on for months now." "Universal Studios has been quite keen on becoming a force in the Indian film market. The deal has finally gone through," said an insider. Another source added that Excel wants to scale up its productions with this partnership and has big ideas planned ahead.
Production house
Excel's recent releases and future projects
Excel Entertainment had a busy year, releasing three theatrical films, 120 Bahadur, Ground Zero, and Superboys of Malegaon, and the direct-to-digital film Songs of Paradise. While most of these films were critically acclaimed, their box office performance was underwhelming. The production house has several upcoming projects, including Don 3, Mirzapur: The Film, and the long-delayed Jee Le Zaraa starring Alia Bhatt, Katrina Kaif, and Priyanka Chopra Jonas. An official announcement about the Universal-Excel deal will be made on January 5.