Star TV Network has purchased the exclusive rights for upcoming film ‘Krrish 3’ for a whopping Rs. 38 crore.

Filmmaker Rakesh Roshan announced the deal earlier this week, which includes the resale of ‘Krrish’. Star TV already owns the rights of ‘Krrish’ but has renewed the deal.

Furthermore, Eros International has acquired the oversea distribution rights of the film for Rs 20 crore. Meanwhile, the music has been sold to T-Series for Rs 10 crore.

Roshan also announced that the movie will be known as ‘Krrish 3’ as oppose to ‘Krrish 2’ as has been widely circulated in the media. ‘Krrish 3’ is the third to be released in the franchise after ‘Koi Mil Gaya’ and ‘Krrish’.

The film is set to go into production in October this year, with a release likely next summer – around June 2012.

Star TV recently acquired Shah Rukh Khan’s sci-fi superhero film – ‘Ra.One’.