Jan 19 2009
The Russian business newspaper Kommersant today reported Mail.ru, the leading Russian website in which Naspers holds a 32% stake, invested in a Russian horror and adventure movie called “Viy” in exchange for a share in the box office returns.
Apparently, Russia’s film industry is booming.
According to Kommersant, Mail.ru invested $5 million in the movie already last summer, which was equal to 25% of the movie’s production cost. It was not mentioned what percentage of the box office turnover would flow to Mail.ru.
The movie is based on a book of Nokilay Gogol and will be ready for the cinema circuit in the fourth quarter of 2009, the publication said.
Read all about it here. (You may have to scroll down on this page…otherwise search for Mail.ru on the blog.)
And don’t forget to watch the video clip – you’ll be surprised to see what SA money can finance.
A good follow-up was written by Mandy de Waal here.