Film Production
Reliance Entertainment inks 50:50 JV with Phantom Films
MUMBAI: Anil Ambani-owned Reliance Entertainment has inked a 50:50 joint venture with Phantom Films, a company which is formed by filmmakers Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena.
The JV company will leverage the proven creative and production capabilities of the Phantom team, while enjoying access to the established domestic and international sales and distribution infrastructure of Reliance Entertainment.
The Reliance Entertainment and Phantom Films joint venture plans to develop and produce at least five – six films every year, apart from distribution of films in India and overseas, and syndication of rights from the over 175 films strong library.
Reliance will own 50 per cent shareholding of the combined business, while the balance 50 per cent will be equally held among the four promoters of Phantom Films. The day-to-day operations of the JV will be managed by Phantom Films.
Reliance group managing director Amitabh Jhunjhunwala said, ““We are delighted to partner with such creative and talented individuals as Anurag, Madhu, Vikas and Vikramaditya, who have an enviable track record of creating great cinema. This partnership is in line with our evolving strategy in the media and entertainment business, of aligning with like-minded people who are trailblazers in their own field, and playing the role of supportive investors on our part.”
Kashyap added, “This deal opens our windows to international opportunities and talent. We hope to optimise on this opportunity, take Indian cinema international and also attract excellent talent into the country.”
Phantom Films will also be in a position to leverage the world-class capabilities of the recently announced Reliance MediaWorks–Prime Focus combination in digital, visual and special effects, pre and post-production, physical studio, etc., with facilities in Mumbai, London, Los Angeles, Vancouver, etc., and including Double Negative, the UK-based digital and visual effects company.
Reliance’s network includes the wide reach of IM Global, a Reliance Entertainment company based in Los Angeles, with operations in North America, UK and Europe, Asia Pacific, China and Latin America.
Reliance Entertainment has produced, distributed and released films in multiple Indian languages, including Hindi, Tamil, Telugu, Malayalam, Kannada and Bengali.
Film Production
Disney to cut 1,000 jobs under new chief executive
The entertainment giant’s freshly installed boss inherits a restructuring already in motion, with marketing and corporate roles bearing the brunt
CALIFORNIA: Walt Disney is preparing to slash up to 1,000 jobs in the coming weeks, the Wall Street Journal reported, as the entertainment giant’s freshly installed chief executive moves swiftly to trim fat and tighten the ship.
The cuts, less than 1 per cent of Disney’s global workforce of 231,000, will fall hardest on marketing and corporate roles. The planning, notably, began before D’Amaro formally took the top job in March, suggesting the new boss inherited a restructuring already in motion rather than one of his own making.
Driving the push is Asad Ayaz, Disney’s newly appointed chief marketing officer, who in January assumed command of a unified, company-wide marketing operation spanning film, television and streaming. His consolidation drive has been given a suitably cinematic internal name: Project Imagine.
The move is modest by Disney’s recent standards. Between 2023 and 2025, under former chief executive Bob Iger, the company eliminated roughly 8,000 positions across several brutal rounds of cuts, saving $7.5 billion, comfortably exceeding its own targets. As recently as June 2025, several hundred more jobs were axed across Disney Entertainment, hitting film and television marketing, publicity, casting, development and corporate finance.
Disney’s structural headaches are well-documented: shrinking streaming margins, a weakened box office, and fierce competition from Amazon and YouTube gnawing at its flanks. The company is merging its Disney+ and Hulu teams into a single app, has brought in consultants from Bain & Co to guide its broader cost strategy, and is betting heavily on digital growth.
The wider entertainment industry offers little comfort. Sony Pictures, Paramount and Warner Bros. Discovery have all taken the knife to their workforces in recent years, and further cuts loom if Paramount’s acquisition of Warner goes through.
For D’Amaro, the message is clear: there will be no honeymoon period. The magic kingdom still has some cost-cutting spells left to cast.
