The announcement of the merger came at a time when the film exhibition industry has been impacted by the covid pandemic and there is significant pressure on the theatrical business from the accelerated growth of digital OTT platforms.
A joint statement released by the two chains indicated that the rise of over-the-top (OTT) streaming platforms had a major role in the consolidation.
PVR Cinemas reopened the doors of its cinema halls for the general public in Maharashtra from Thursday amid stringent precautionary measures.
In what could be termed as a good gesture, a movie theatre in the national capital invited Corona Warriors as guests to watch a special show as theatres reopened nationwide from October 15 at 50% capacity.
The Union Home Ministry on Wednesday issued new guidelines for permitting more activities in areas outside containment zones that include opening up cinemas, theatres and multiplexes with up to 50 per cent of their seating capacity from October 15.
Multiplexes particularly PVR cinemas, INOX Leisure may cut ticket prices once they are reopened amid the pandemic to woo customers seeking to bring back the audience to theatres.
The Information and Broadcasting (I&B) Secretary Amit Khare has written to the Ministry of Home Affairs (MHA) to consider reopening of cinema halls all over the country from August 1. I&B Secretary Amit Khare indicated this at a close-door industry interaction with the CII Media Committee on Friday.
Cinema halls gearing up to resume functioning expecting relaxations in the coming months. Movie theaters across the country are shut down ever since March when the first phase of lockdown was imposed to curb the spread of coronavirus.
It's been close to 3 months since the last time a movie was shown at a cinema hall in India. The coronavirus pandemic brought life as we know it to a standstill. The first spell of lockdown was announced in the last week of March. As we close in on July, cinema halls like PVR and INOX still wear a deserted look, contrary to the full of life persona of a movie theatre on a Friday night or a Saturday night in the pre-COVID-19 era.
Shares of multiplex chain operator PVR on Tuesday tumbled 7 per cent after the company reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 2020.
Shares of multiplex chain operator PVR on Tuesday fell nearly 5 per cent after the company reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 2020.
Despite no official call on the reopening of movie theatres in India, PVR shares have constantly risen over the last few days. As of 14:57 pm, June 8, PVR shares are up 19 per cent, a rise of Rs 204 per share.
PVR Cinemas aims to reach the 1,000 screens milestone in the country by next March-end, a key official of the multiplex player said on Friday.
PVR Cinemas on Friday launched its fifth multiplex in Gujarat's Vadodara and became the largest operating chain in the city.
Taapsee Pannu's Game Over will be the first film to be distributed under the partnership while Hrithik Roshan's Super 30 is the next.
The acquisition of SPI Cinemas will give PVR a strong foot hold in the southern market.
PVR said in a regulatory filing that the board has approved the execution of a Share Purchase Agreement (SPA) in this regard.
Mobile payment and e-commerce platform Paytm on Wednesday announced that it has partnered with PVR, Cinepolis, amusement parks and gaming parlours to enable cashless payments.
New Delhi: Before Hollywood aficionados in India sit down to watch the forthcoming 87th Academy Awards ceremony on TV screens later this month, PVR Cinemas is offering fans a chance to watch a string of
Top News
Latest News
