Chadavalada Srinivasa Rao who bought the theatrical rights of Vijay Deverakonda's upcoming film World Famous Lover has reportedly backed out.
Chadalavada bought WFL theatrical rights for Telugu States for Rs. 24 Crore. He has paid Rs. 4 Crore advance for the same.
But in a strange turn of events, Chadalavada backed out and informed producer KS Rama Rao to find another buyer. He is not putting any pressure on the producer for his advance too.
Why did Chadalavada step back from releasing Vijay Deverakonda's film? Vijay is still hot in the trade despite his recent failures.
According to reports, Chadalavada couldn't find any bids from AP buyers for WFL. He realized that there isn't much buzz around the film and decided to step back before it is too late.
World Famous Lover is slated for release on Feb 14 and the producer should find another solo buyer or sell the rights to individual buyers from different regions.