Goldstone Technologies acquires rights for 'Hum Dono'

Goldstone Technologies Ltd has announced that the Company has acquired the rights for re-releasing the super hit movie 'Hum Dono' in colour. Its the first ever initiative to restore, scope conversion, 7 Channel sound conversion, color and colour the film industry veteran, Dev Anand's super hit movie. The Company proposes to handle this business through its subsidiary Goldstone Media Ltd.

At the press conference on June 02, 2007, Goldstone showcased a two-minute restored and coloured song segment from the film. Hum Dono which is scheduled to be released in December 2007 on the big screen both nationally and internationally.

After its tie up with the Nav Ketan Banner, Goldstone looks forward to tying up with other such Bollywood production houses to reproduce their old works with a new vigor and color. The coloured classics today are more in demand than the rough filming of the poorly stored black and white films. Goldstone plans to restore and colourize the global black and white film market thus becoming specialists the sector.

"Colouring years old black and white classic requires not just creative acumen but also technology. We at Goldstone are proud to provide the platform to this growing trend and the space to display it. We are proud that our first effort is to bring alive that immortal classic - Hum Dono." said Mr. Jagan Mohan, Head of Media Division.

The colourization market is slated to be about Rs 150 crore in the next three years and this initiative throws open a big opportunity for Goldstone to create a niche in this segment. The Company plans to capture 60% of the untapped market. Before the process of colourization a film needs to be restored. The restoration market alone is expected to grow to Rs 100 crore in the next three years.

Colourisation of the old and famous black and white films is now catching up as a new trend thus paving the way to screening the blockbusters of the black and white era in a new light. This trend has will not only attract the old generation but also the new generation who would like to relive the old experience. Colorization of black and white movies has proved a hit in the international markets thus connecting to the NRI audience.

Source : Equity Bulls

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