Here’s What The Future Holds For Once-Esteemed Phantom Films
Three years after superstar filmmakers, Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena announced the dissolution of their production house, Phantom Films, it is being reported that Mantena has bought the shares held by the other three in the company.
Each of the three directors held 12.5 per cent of the shares in Phantom Films and Mantena is said to have bought out all of them. In doing so, he has ensured that Phantom Films will now become a joint venture between his company, Mad Men Ventures and Reliance Entertainment. Both Mad Men Ventures and Reliance Entertainment will hold 50 per cent shares each. Earlier, the agreement was between the four filmmakers, who collectively held 50 per cent of the shares and Reliance Entertainment.
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“One thought it was all over for Phantom Films as a brand but Madhu had ideas to keep it alive. He got in touch with Kashyap, Motwane and Bahl and expressed an interest to buy their stakes. The three of them agreed, the modalities were worked out quickly, the deal was made amicably,” a source told the Times of India. This new development has also been confirmed by Madhu Mantena himself.
Phantom Films was founded in 2011 and quickly cemented itself as one of Bollywood’s most prestigious production companies. The company produced reputed and critically acclaimed movies like Lootera, Queen, Masaan and Udta Punjab. The company was also unique because it had directors leading it.
“Vikas, Madhu, Anurag and I have decided to dissolve our partnership in Phantom and go our separate ways. It’s been the craziest, greatest journey and the most wonderful partnership of my life. My three partners have been my family through thick and thin and I can’t thank them enough for their love and support for the past seven years. I wish them nothing but the best on their individual journeys from here on and hope our paths will cross again in better times,” Vikramaditya Motwane had shared post the dissolution of the company.
The company’s demise was allegedly brought about by the astounding sexual harassment claims against a former employee against Bahl. However, the filmmaker was later cleared of all charges following an internal probe by Reliance Entertainment.
“And all dreams come to an end. We did our best and we succeeded and we failed, but I know for sure we are all stronger and wiser and will continue to pursue our dreams in our own individual ways,” Kashyap had said in a tweet at that time.