In a strategic move that is likely to create ripples in Bollywood, Eros International Media Ltd bought fifty per cent stake in Puja Entertainment and Films Ltd.
As the deal was struck, it was also clear that yesteryear’s’ blockbuster hits known better as the No 1 series including Coolie No 1, Hero No 1 and Biwi No 1 will be the among the first of Vashu Bhagnani films to be remade through this venture.
Not just that, the grand merger will now allow Eros International access to Puja Entertainment’s vast library of all time hits like Bade Miya Chote Miya, Rehna Hai Tere Dil Main and F.A.L.T.U
Commenting on the announcement, Kishore Lulla, Chairman, Eros International said, “This alliance is an extension of the very special association we share with Vashu ji. As a studio, we want to continue developing prolific content and through this partnership with a seasoned expert like Vashu ji who has produced some of the biggest Bollywood hits, we wish to present cinema at its entertaining best”.
Chairman of Puja Entertainment, Vashu Bhagnani said, “It’s not just a strategic alliance for Puja Films, it’s infact a culmination of a friendship that goes back more than two decades. Kishore ji and I had wanted to do this for a very long time. Puja Films has been in the movie making business for the past 20 years and it is crucial to partner with a behemoth like Eros to continue making meaningful and profitable cinema.”
Insiders say that not just old blockbusters but several new projects are also in the pipeline.