Ajay Devgn’s NY VFXWaala Acquires Stake in Sweden’s Goodbye Kansas, Launches Joint Venture Studio in India

India’s Zee Entertainment Enterprises is planning to cut its workforce by 15%. At the same time, MD and CEO Punit Goenka is proposing a “lean and streamlined” board structure.

Naman Ramachandran Punit Goenka, MD and CEO of Indian media conglomerate Zee Entertainment Enterprises Limited, is trimming the organization’s workforce by 15%. “In line with his overall strategic approach, the MD and CEO has initiated the process of rationalization of the workforce by 15%, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future,” Zee said in a statement on Friday.

Naman Ramachandran Jio Studios, the content arm of billionaire Mukesh Ambani’s Reliance Industries Limited (RIL), is on a roll with several box office hits in a row. Almost exactly a year ago, Jio Studios had launched a slate of 100 new films and TV shows. Those efforts have now come to fruition.

BBC Studios Launches First Kids Streamer In Korea

The Goat Life (previously titled Goat Days) will release in theaters across the UK, India, Australia and France today.

Busan Hires Deputy Director

Shares of Paramount Global popped in afternoon trade on a report that Apollo Global has made an $11 billion bid for the company’s film and TV studio. The private equity giant has been in and out of the mix of suitors, which also include David Ellison‘s Skydance Media and Byron Allen.

Scripted formats were placed front and center of BBC Studios’ panel at Series Mania, as the Doctor Who seller confirmed it is making up to three more versions of Ghosts and has bought Spain’s Brutal Media.

Naman Ramachandran BBC Studios, the commercial arm of the broadcaster, has acquired Spanish producer Brutal Media. Founded in 2009, Brutal Media’s credits include the recently announced original miniseries for Netflix, “Asalto Al Banco Central,” “The Academy” (Sony Pictures Television), “Vintage” (3cat), film “Killer Book Club” (Netflix), series “Welcome to Eden” (Netflix) and “The Hockey Girls” (Netflix, 3Cat), documentaries “The End of the Storm” (Sky TV, Liverpool FC) and “Murder by the Coast” (Netflix) and romantic comedy “I Love You Stupid” (Netflix).

India has driven more subscribers to Amazon than any other country bar the U.S. over recent years, according Head of Prime Video & Amazon MGM Studios Mike Hopkins.

Leo Barraclough International Features Editor International sales agency Lightdox has acquired documentary “Marching in the Dark” in advance of its world premiere at CPH:DOX. The feature debut from Kinshuk Surjan focuses on how the growing number of suicides among farmers in India is affecting the agricultural community. The trailer debuts exclusively on Variety below.

Todd Spangler NY Digital Editor Paramount Global has sold its 13% ownership stake in TV and streaming company Viacom18 to Reliance Industries for $517 million. Reliance was already the majority owner of Viacom18. The pact comes two weeks after Disney and Reliance Industries announced a blockbuster $8.5 billion deal merging their massive Indian TV and streaming businesses.

Paramount Global has sold its 13% equity interest in Viacom18 Media to Indian conglomerate Reliance Industries for the equivalent $517 million.

EXCLUSIVE: PhantomFX, an Indian VFX powerhouse that has worked on everything from The Avengers and The Walking Dead franchise to Outlander, is set to acquire a majority stake in Tippett Studio, the animation and visual effects production company of Oscar-winning filmmaker Phil Tippett.

Former Fox Television Studios and Shine Americas boss Emiliano Calemzuk is to take charge of Israeli network Reshet 13.

Naman Ramachandran India premieres of France’s “The Taste of Things” and Korea’s “Exhuma” will open and close respectively the first edition of India’s Cinevesture International Film Festival. Tran Anh Hung won best director at Cannes 2023 for “The Taste of Things,” which was subsequently submitted as France’s official entry to the Oscars’ international feature category.

Naman Ramachandran Bollywood film “Shaitaan” has scored a hefty opening, according to data provided to Variety. The film marks the first collaboration between billionaire Mukesh Ambani’s Jio Studios, Bollywood A-lister Ajay Devgn’s Devgn Films and Panorama Studios. “Shaitaan” scored a worldwide weekend gross of $9.8 million, including India, according to numbers from Panorama Studios.

Naman Ramachandran Upamanyu Bhattacharya‘s animated feature “Heirloom” has the emerged from the crucible of Annecy, one of the world’s top animation festivals. The Indian work-in progress film has been selected for the 22nd Hong Kong — Asia Film Financing Forum (HAF), the project market that operates concurrently with FilMart. In the film, Sonal, a teacher, grapples with a hereditary disease, mirroring her mother’s untimely demise.

After stints heading local-language production at Disney APAC and HBO Asia, Hong Kong-based Jessica Kam-Engle is now heading CreAsia Studio, a new Banijay Asia venture in Southeast Asia, in the role of EVP & Business Head.

Naman Ramachandran Indian filmmaker and composer Sanjay Leela Bhansali has launched music label Bhansali Music with the soundtrack of Netflix series “Heeramandi: The Diamond Bazaar.” The first song from the album, traditional composition “Sakal Ban,” with lyrics by Amir Khusro and sung by Raja Hasan, will be released on Saturday. Via the label, the filmmaker will collaborate with musicians and artists to produce compositions for his films and shows and also independent albums.