Hollywood
Cinépolis targets having 400 screens in India by 2017
NEW DELHI: In a bid to provide the best-in-cinema experience coupled with state-of-the-art technology, Cinépolis India, today announced the launch of its first International multiplex in Rohini in the NCR region. The chain commenced its journey in India in 2007 and launched its first multiplex in Amritsar in 2009. The multiplex chain is targeting 400 screens by 2017
Cinepolis India managing director Javier Sotomayor said, “Committed to our brand promise and focus to offer unique cinema viewing experience to the Delhi audience, we are delighted to introduce our first property replete with international Cinépolis state of the art technology. We aim to provide a superlative cinema viewing experience to the entire gamut of our discerning Delhi patrons. With this launch we get a step closer to our targets in India and have 240 screens running now, with a promise to open another 160 screens, by 2017.”
Sotomayor claimed that Cinepolis was now the fourth largest multiplex chain in the world with 335 theatres and 3,187 screens in 13 countries. The chain employed 35,999 employees. It had the third largest footfall in India and sold 262.3 million (26.23 crore) tickets in 2015. Cinépolis, which acquired Fun Cinemas in 2014, has its largest theatre in Pune.
Asked about the chain’s future plans, Sotomayor said Cinepolis liked to go slowly but the group was looking at opportunities. It was also examining some cases where old single screen theatres could be converted to multiplexes.
Sotomayor opined that Indian cinema audiences were more passionate than anywhere else in the world. One could hear them clap, cheer or jeer, or even shed a tear while watching a film. He said audiences overseas just sat quietly in a cinema hall and watched a film and preferred to express their views later outside the theatre.
Cinepolis director for expansion Ashish Shukla said, “Cinépolis @ Unity One, is the first of our Ebony design concepts. Its premium, it’s luxurious and brings the best in cinema experience. This will expand our NCR circuit from current 13 screens to 17 screens. The current 13 was part of our Fun Cinemas circuit, which we amalgamated last year. The capital of India, reflects the movie loving country, we are making it a prime market for the entertainment industry. We have 75 plus screen planned to be open in the NCR region in couple of years helping in increasing our presence in the country.”
Shukla said the seats and rows were designed in such a way that even a four-year child could see the screen clearly when a tall person was sitting in the seat ahead of him or her. It was the first multiplex in India to have the ‘Real 3D’ technology which was less straining on the eyes. He said viewers of normal 3D often complained of headaches etc.
Shukla revealed Cinépolis had also pioneered nine Cinepolis Junior projects in some countries. This had screens where parents and children could sit together to see films in a theatre customized for kids. This would be brought to Delhi shortly, he added.
Cinepolis business head for strategy Devang Sampat said, “Cinépolis is launching Club Cinépolis, the company’s flagship loyalty program that would further enhance customer experience. Our food offering also include freshly prepared gourmet food at our signature outlet, Coffee Tree.”
Sampat revealed that advertising about the theatre is done mostly on the print media or social media and said there was no advertising so far on television.
Cinépolis spent three per cent of its annual expense budget on promoting its own product – the cinema houses – since distributors and producers whose films are being exhibited there also contribute in increasing awareness and footfalls.
Sampat said when people come to the theatre to see a film of their choice, ‘the product advertises itself, while adding that some marketing was also done by way of partnerships with a lot of new initiatives. Sampat informed that tickets would cost between Rs 130 and Rs 300, the latter for the VIP seats. Club Cinepolis was being launched to reward loyalty points for those frequented the theatre regularly.
Unity One director Harsh Bansal said, “We are delighted to launch the first Cinépolis in the NCR and get associated with them, being one of the leading player in the cinema exhibition space in the world. Cinépolis has a global legacy which delivers a phenomenal movie experience. We would be building more projects with the group in future too.”
Unity Group director Naresh Aggarwal said, “We are expecting a heavy footfall at this multiplex and everyone will be amazed by the experience of Cinépolis”.
Hollywood
Paramount Skydance secures financing for Warner Bros Discovery deal
Debt syndication and new loans push $111 billion merger closer to close
WASHINGTON: Paramount Skydance has taken a major step towards its planned acquisition of Warner Bros Discovery, securing fresh financing and completing the syndication of its bridge loan facility.
In a filing with the Securities and Exchange Commission, the company confirmed that the bridge facility has now been distributed among a group of 18 banks, reducing total commitments to $49 billion from an earlier $54 billion. The move spreads risk across lenders and signals growing confidence in one of the year’s largest media deals.
Alongside this, the company has finalised permanent financing arrangements, including $5 billion in senior term loans and a $5 billion revolving credit facility. A previously planned $3.5 billion credit line has been dropped as part of the restructuring.
The loans are secured against key assets, including Paramount Global, Skydance Media and Warner Bros post-merger, underlining the scale and complexity of the transaction.
The financing push follows a competitive bidding process earlier this year, which saw interest from players such as Netflix before Paramount Skydance emerged as the frontrunner. The deal, valued at $111 billion, is expected to close in the third quarter, subject to regulatory approvals.
Adding to the momentum, the company has also secured significant equity backing, including investments from Middle Eastern funds, with support from billionaire Larry Ellison, who has guaranteed the equity portion of the transaction.
Commenting on the development, Paramount Skydance chief strategy officer Andy Gordon said, “Our successful debt syndication and new debt facilities represent another important milestone towards the completion of our acquisition of Warner Bros Discovery.”
Once completed, the combined entity is expected to carry net debt of just under $80 billion, reflecting the sheer scale of the merger.
As Hollywood continues to consolidate in the streaming era, this deal could reshape the competitive landscape, with Paramount Skydance betting big on scale, content and financial muscle to take on global rivals.
