After seeing a fair amount of success in Bollywood, filmmaker Priyadarshan will now direct an English film for US-based film funding company, Woodpecker Holding Inc. The director will make a film based on a story of supernatural events and Woodpecker is investing around $ 20 million (approximately 100 crore). Slated for release in mid 2011, Woodpecker will be holding the IPRs to the film as also the marketing rights. For the cast, Woodpecker is in talks with Hollywood actors like Penelope Cruz.
Speaking on the development, promoter of Woodpecker Holdings, Rajesh Bhatia, told FE, ?This is our first venture in Hollywood. With films like Avatar seeing success in the world of cinema, our project will be targeting audiences both nationally and internationally. The funds for the film will be entirely invested by Woodpecker and we will be spending 40-50%, approximately $10 million (Rs 45 crore) on the marketing of the film.?
Priyadarshan will also direct a couple of Hindi films, the combined budget for which is Rs 100 crore. Woodpecker will be investing in both these films, one a thriller and the other an action film. Bhatia added, ?The first Woodpecker-Four Frames Production is expected to be released in August 2010, while the second film is expected some time in 2011. The two films of Woodpecker will be remakes of Tamil films, where the first film is said to be a story of four friends.
For their Hollywood venture, Woodpecker has partnered with
Deluxe Labs, a London-based entertainment services company for the visual effects.
Moreover, the US player is also looking to venture into verticals like exhibition and distribution. ?For our exhibition business, initially we will target areas like north and south and might explore a joint venture with few players,? said Bhatia. Woodpecker is currently also looking setting up Woodpecker Wonderland and Woodpecker Theme park studio in Karjat and will be investing around $150 million (Rs 675 crore).
Woodpecker currently plans make around six films in 2010 out of which two have been already signed by Priyadarshan and the remaining four will be made together with big production houses in India. Woodpecker Holding Inc has funds of more than $300 million (Rs 1, 350 crore), out of which $150 million (Rs 675 crore) has been earmarked for film funding. While the holding company is based in the US, its subsidiary Woodpecker Pictures takes care of the movie business in India and is based Mumbai.