Movies
Cinema exhibition chain Carnival Cinemas in talks to raise equity
Mumbai: Mumbai-based cinema exhibition chain Carnival Cinemas is in the initial stages of raising equity of Rs 400 crore, as per a report by Hindi Businessline. Carnival Cinemas is the second-largest theatre chain after PVR-Inox with 450 screens present nation-wide.
The cinema chain is in talks with its sole lender Yes Bank as well as public and private equity funds to raise money to expand to another 118 screens. The entity is expected to make a formal announcement of the fund raise in 60-90 days.
The company owned by Dr. Shrikant Bhasi, always had plans for further expansion, especially after the record revenues of 2020. They have waited for the resolution of the pandemic before introducing private equity investors.
According to a source, “To raise funds, Carnival Cinemas worked with Yes Bank, with whom they have a long-standing relationship, whereby the bank has always supported and believed in the business. Yes Bank has started its process to take equity and enable Carnival Cinemas to move towards its vision of 1,000 screens.”
An official from Carnival Cinemas who refused to be named stated, “We are the market leaders in tier III and tier IV markets and are the only mass cinema chain in India whose vision is to open and operate a large number of screens. This debt restructuring would close within 60-90 days.”
International
Council of Europe to unveil new TV and streaming co-production convention
Series Mania Forum to host landmark signing to boost global TV collaboration
LILLE: The small screen is getting a big policy push. At this year’s Series Mania Forum in Lille, Alain Berset will take centre stage to chair the opening ceremony for a new international convention aimed at reshaping how television and streaming series are co-produced across borders.
Set for March 26 at the Théâtre Marie Curie in Lille Grand Palais, the signing marks the debut of the first legal framework dedicated specifically to the independent co-production of series. In an industry where stories travel faster than ever, the move aims to make collaboration smoother, fairer and more transparent.
Backed by the Council of Europe, the convention is designed to strengthen cultural ties, give independent producers a firmer footing, and bring greater clarity to deals in a rapidly evolving content landscape. With streaming platforms fuelling a surge in global storytelling, the timing feels deliberate.
Council of Europe secretary general Alain Berset, underscored the cultural heft of series today, noting how they carry voices and viewpoints across borders. He called on member states and countries beyond Europe to sign on, framing the initiative as a way to turn culture into a tool for cooperation and democratic exchange.
For Series Mania founder and general director Laurence Herszberg, hosting the signing is both symbolic and strategic. She described the convention as a step that could widen the range of stories reaching audiences, staying true to the forum’s long-standing mission of championing diverse storytelling.
The ceremony will unfold alongside the Lille Dialogues, a high-level summit that gathers policymakers and industry leaders to debate the future of Europe’s audiovisual sector. Berset is also set to deliver the opening address there, adding political weight to a week already rich in creative ambition.
In short, as screens multiply and borders blur, Europe is putting a framework in place to ensure that storytelling keeps pace, collaboratively and coherently.
