Warner Brothers and multiplex owners are caught in a profit sharing deadlock
Warner Brothers and multiplex owners are caught in a profit sharing deadlock
There is some bad news for Potter fans in the country.
According to sources, multiplex owners have put forth a demand that the profit sharing equation for Harry Potter's last edition, Harry Potter And The Deathly Hallows: Part 2 be changed in their favour.
A still from Harry Potter And The Deathly Hallows: Part 2
This last minute demand just before the release of the film this Friday, has got the producers, Warner Bros Pictures, upset.
It has been learn that a meeting held on Wednesday between the multiplex owners and the producers resulted in a deadlock.
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Last evening, a group representing multiplex owners of the country, visited the Warner Brothers office for renegotiations.
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The group consisted of Prakar from PVR cinemas, Rajendra Singh representing Fame and Inox, Jeevan Joshi from Big Cinemas, Thomas D'Souza from Cinemax and Anshu Kapoor from Fun Cinemas. Apparently, no consensus has been reached as yet.
Even if there is some kind of truce between the two parties today, the film gets hit logistically, as the studio was hoping to make some good money at the paid previews that were to happen today, but now it seems impossible to hold them.
Multiplex owners outside Warner Bros office after the meeting
Warner Bros is yet to release an official statement regarding their stance on the issue.
When spoken to, the theatres confirmed that the paid previews stand cancelled and shows are confirmed only in single screen theatres.
According to sources, the producers are mighty upset with the last minute tactics by the multiplex owners to blackmail them.
Multiplexes demand...
The profit sharing equation: Hollywood producers get 50 per cent in the first week, 42.5 in the second week, 37.5 in the third week and 32.5 in the fourth week. But now the multiplex owners are only offering 45 per cent in the first week, 37 in the second week, 32.5 in the third week and 25 in the fourth week.
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