Star TV Network has forked out a huge Rs 350-400 crore to acquire 500 blockbuster movie titles from Colors.
Colors had banked many of the movie titles for its soon-to-launch movie channel but as this has been deferred, Colors has sold the rights to Star TV.
The movies include ‘Dabangg’, ‘Ready’, ‘Golmaal 3’, ‘Tees Maar Khan’, ‘Thank You’, ‘No One Killed Jessica’, ‘Guzaarish’, ‘Kites’ and ‘Raavan’.
Colors CEO Raj Nayak told Economic Times that as part of an overall strategy, they have sold a part of their film library. “We have a very large library acquired over four years and this is a part of it. But we have retained the rights to a certain number of airings of some of the films as well.