The two-month-long standoff between producers and multiplex owners over revenue sharing finally ended on Friday following weeks of close door deliberations between the two parties which continued till the wee hours of Friday morning. The strike from multiplex owner and producer ends today and both parties reached a deal early on today. According to television channel CNN-IBN, president of Indian Motion Pictures Producers Association (IMPPA) Mukesh Bhatt has confirmed this news. The two parties reached a consensus over the rationalization of profit sharing for forthcoming films. However, the terms and conditions for calling off two-month strike could not be ascertained till the news was filed.
According to the sources, the issue was resolved after a 12-hour long meeting between the two parties at Yashraj Studios. Producers and distributors were demanding for a fair share of 50% at box office revenues but multiplex owners disagree. At present, the ratio is 40:60 in favour of owners.
According to the sources, the issue was resolved after a 12-hour long meeting between the two parties at Yashraj Studios. Producers and distributors were demanding for a fair share of 50% at box office revenues but multiplex owners disagree. At present, the ratio is 40:60 in favour of owners.
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