Last week, after Uday Shankar announced that he will step down as Star and Disney India chairman and Walt Disney Company Asia Pacific president in December, murmurs suggested that all was not well in the power corridors of Disney Star India. This comes barely seven months after Vijay Singh, CEO, Fox Star Studios — the film studio subsidiary of the parent company — resigned in March.
Over the past four months, the media giant has cut down the studio's 25-member team to five. Sources say that while Amitabh Bachchan, Ranbir Kapoor and Alia Bhatt-starrer Brahmastra is the only project currently on floors, the company has held off the greenlighting of new films for the immediate future.
An employee, who was handed the pink slip in August, says, "We had expected [the termination] because the studio stopped sanctioning films in India since the takeover. Brahmastra is our last project. Though they were in talks to back Karan Johar's Takht, the studio decided against it. We were paid our dues with a severance package of three months."
Housefull 4, Chhichhore were hits delivered by the studio last year
However, another employee, who was let go in September, says that the media giant wants to change business tactics instead of writing the vertical off. "The studio will continue to invest in Hindi series, regional language shows, and direct-to-net films. Over the past two months, close to 18 people have been let go from the unit due to overlapping duties."
Of its six releases last year, Fox Star Studios enjoyed box-office success with Housefull 4, Chhichhore and Mission Mangal while the poor run of Kalank, Ek Ladki Ko Dekha Toh Aisa Laga and The Zoya Factor apparently put the balance sheet in the red. A Disney employee says, "This year, Chhapaak and Panga did average business, and the box-office run of Baaghi 3 was cut short by the pandemic. The studio was not faring well. The change of plans is necessary, but their commitment to backing films continues. The only unit making money is Disney+Hotstar due to its sports content. We are hoping the platform's subscription base will increase post the release of Bhuj and Laxmmi Bomb." It may be noted that the Star India network, which had 2,400 employees, saw close to 500 people being laid off since Walt Disney's takeover in June 2018.
Mission Mangal was one of the hits delivered by the studio last year
mid-day reached out to Disney India, which did not respond till press time.Keep scrolling to read more news
Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.
Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news
Tags : Brahmastra Mission Mangal Housefull 4 Chichhore Fox Star Studios Bollywood News Entertainment News Bollywood News Latest Bollywood News Bollywood Gossip Latest Bollywood Gossip Latest Bollywood headlines Latest Bollywood Events Bollywood news today Entertainment Movies Bollywood
Disclaimer : We make no assurance about the completeness and accuracy of the content of this website. All news on this website is collected from various sources hence information may or may not be true. Bollywood charcha does not verify the reliability of the content published. We do not accept any accountability for loss or damage occurred as a result of reliability on the content of this website.
Subscribe to our newsletters now and stay
up-to-date with new articles and exclusive offers.
Your email is safe with us. We won't spam.