Acharya Director Koratala Siva Pays Rs 33 Crore To Distributors
Megastar Chiranjeevi and Ram Charan’s much hyped film Acharya was released in theatres on April 29 and it turned out to be a box office failure. Due to the pre-release hype around the movie all had huge expectations from the movie. However, it tanked at the box office leaving the filmmakers and distributors in huge loss.
Post the box office disaster; many distributors wanted their money back from the producers. The film was co-produced by Ram Charan’s Konidela Konidela Production Company in association with Matinee Entertainment. A few distributors had even written letters to Chiranjeevi seeking his help to compensate for their losses.
The filmmakers have already returned a huge chunk of the amount to distributors and exhibitors. Now, reports emerge that film’s director Koratala Siva has reimbursed Rs 33 crore to the distributors as a part of the final statement.
Acharya was produced with a budget of around Rs 140 crore. The film had a net collection of a little over Rs 40 crore at the box office. According to reports, in its theatrical business the movie suffered a loss of over Rs 84 crore.
Chiranjeevi, who recently returned from a trip to the United States, reportedly spoke to Siva about the situation. The movie’s digital streaming rights were bought by Amazon Prime Video and reportedly, the OTT giant is yet to make the final payment.
While Niranjan Reddy, the film’s producer volunteered to bear the GST expenses, Chiranjeevi also agreed to pay back Rs 10 crore from his remuneration to cover the losses.
Siva will now soon begin working on his next project with Jr NTR. According to reports, the RRR actor has asked the director to sort out the issues related to Acharya before starting his next film. The cast and crew of the film are yet to be officially announced.