PVR and INOX Leisure, the two greatest directors in India, will team up to create a giant multiplex cinema in the country.
The transaction, subject to regulatory approval, provides for the supervision of unified units of more than 1,500 screens in 109 cities. PVR is India’s largest network with 850 screens while INOX has around 650.
The deal comes after both companies are looking to go out in full swing after a two-year shutdown delay and a delayed launch due to a pandemic. Costumes said this will help them improve efficiency, create new markets and optimize costs.
“The film exhibit industry has been one of the hardest hit by the pandemic and building the scale to make it effective is critical to the long-term survival of the business and to combat the onslaught of digital OTT platforms.” This was stated by the president of the PVR Ajay Bijli. The statement says.
It has been a difficult time for retailers and exhibitors in India as well as around the world, but there have been signs of recovery. This weekend, a successful image RRR The largest one-day opening since the start of the pandemic, according to local reports.
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Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
