Arundhati satellite saga

[nanibabu]

Shyam Prasad Reddy retained all the rights of Arundhati with him. One thing most of us don’t know about is that he sold the satellite rights of Arundhati to a big personality of Telugu cinema for one crore rupees a couple of years back. Shyam Prasad Reddy contacted that person again on 9 January 2009 (five days before the film release) and asked him to re-sell the rights back to him as he is planning for own release. That person said that he would sell it back for profit. They negotiated and Shyam Prasad Reddy bought the rights back for 1.35 crores. That person made a profit of 35 lacs. After the release of Arundhati, that person contacted Shyam Prasad Reddy again for satellite rights and Shyam quoted an astronomical amount of 7 crores. That shows the business acumen and the confidence levels of Shyam Prasad Reddy on his film. As Arundhati is on its way to become all time biggest grosser of Telugu film industry, Shyam Prasad Reddy is not selling satellite rights even for an exorbitant price.

Here is another aspect of how Shyam Prasad Reddy raised 1.35 crores in duration of half-an-hour. He sent his men out to the street to borrow 1.35 crores for 15 days at an interest rate of Rs. 10 (120% interest on annual basis). And in 15 days, he returned back the money.

[KilllBilll]

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