Pritish Nandy Communications Ltd has informed BSE that it has signed a deal with Sholay Media & Entertainment, rights holders of the Sholay franchise, to officially remake Sholay, the iconic classic of Bollywood produced by Sippy Films and released in 1975 which ran for 5 and a half years, breaking all box office records. Sholay is the highest grossing Indian film of all time and, according to Wikipedia, has earned over Rs 2364.50 million (equivalent to 60 million USD) after adjusting for inflation. Sholay racked up a record 60 golden jubilees across India and doubled its original gross over subsequent reruns. As per the understanding, the Company will also have the right to make an animation version of Sholay as well as a full length prequel and a sequel, making four films in all, and thus concluding one of the biggest and most prestigious deals struck in Bollywood history and ending all media speculation over who will get the rights to remake Sholay.
The Company and Sholay Media and Entertainment have agreed to work together to jointly develop the Sholay franchise worldwide. While production on the animation version of Sholay will commence soon, the official remake is scheduled to go into pre-production before the end of the year.