Big Entertainment has tied up with Big B to produce movies in a deal that's rumoured between Rs 1000 to 1500 crore. Amitabh Bachchan and Anil Ambani have come together to form a new film production company.

In a statement to NDTV Amitabh Bachchan confirmed the deal saying: "Yes, it's to come together in a Joint Venture to be partners in creating international property, sharing profits and assessing rights in perpetuity. A seperate entity not AB Corp. Though AB Corp will provide assistance in creatives and execution.

When asked to comment on the value of the deal: "That is an assumption. I can not say what it will be worth."

Directors like Rohan Sippy who cast Abhishek Bachchan in Bluffmaster, Sujoy Gosh who's directing Amitabh in his next film Aladin and The Mystery of the Lamp and R Balakrishnan who directed Amitabh in Cheeni Kum will be working with the new venture.

"I am doing a film called Pa with him, the movie is about a father-son relationship with Amitabh, Abhishek, Vidya and Paresh," said R Balakrishnan, Director.

But there is a twist in this tale, Percept Pictures says over the past year it was in talks with Amitabh Bachchan for a similar deal at a similar amount.

"I was supposed to be a part of this deal but well that is history. Best of luck to them," said Shailendra Singh, CEO, Percept Pictures.

The twist apart, sources say the Ambani-Amitabh deal will use other off screen means like live shows to further promote the Bachchan brand. In short more Bachchan up ahead.