UTV denies Rs.500 million deal with Ranbir

UTV has issued a press release denying a report in a Mumbai daily which was picked up by several Bollywood and financial tabloids.

The article stated that the production house had signed a Rs.50 crore, 3-film deal with Ranbir Kapoor.

This is what the UTV press release states:

We would like to place on record that we categorically deny a false and speculative article that appeared in today's DNA edition on the front page titled "Has Ranbir bagged a Rs. 50 cr. deal?"

We had denied this news to the reporter of this story and we again wish to reiterate that UTV officially denies all such rumors about having a 3-film deal at the specified amount with Ranbir Kapoor.

We are proud to be working with Ranbir on ‘Rajneeti’ and we enjoyed working with him on ‘Wake Up Sid’, and we look forward to working with him on many more films in the years to come, but we categorically deny being in any discussion for any multiple movie deal whatsoever and the article and the amounts mentioned are completely false.

We consider the article damaging to our company and our shareholders and damaging to the industry to project such unwarranted hype. We consider this irresponsible journalism for a story that has been categorically been denied to be carried on the front page of a leading newspaper.