Ajay Devgn’s Chauhaan rights deal REVEALED: Jio Studios gets 50% IP, 100% exploitation and music rights
Here's the latest update from the Bollywood world:
As per the notice, Chauhaan will be written and directed by Neeraj Yadav, while filmmaker Aanand L Rai will serve as the creative director. The notice lays out the proposed rights arrangement between Jio Studios and Colour Yellow in considerable detail.
Adding to this, Under the proposed agreement, Jio Studios will acquire 50% of the intellectual property rights and 50% of the derivative rights of Chauhaan , including the underlying works, across all languages, worldwide and in perpetuity.
Meanwhile, More significantly, Jio Studios is set to acquire 100% of the exploitation rights of the movie and all associated material across languages, platforms, media, mediums and formats. This would cover existing as well as future modes of exploitation. The studio will also own 100% of the music rights of Chauhaan worldwide and in perpetuity.
Notably, The notice further states that Jio Studios will have the right of first offer to produce, along with Colour Yellow, any audio-visual derivative works based on the movie.
As per the latest buzz, Reliance Industries has invited any person, company or entity having a claim, objection, right or interest pertaining to the proposed arrangement, the movie or its rights to submit the same, along with documentary evidence, within seven days of the publication of the notice.
In further updates, While the production agreement is still described as being in the process of being entered into, the public notice provides the first detailed indication of the ownership and exploitation structure being planned for the Ajay Devgn-starrer.
Source: Bollywood Hungama