MAM
PVR Cinemas launches first property in Sri Lanka
MUMBAI: PVR Cinemas, the largest and most premium film exhibition company in India announced its entry into the Sri Lankan market with the opening of PVR Lanka at One Galle Face Mall, Colombo today. PVR in collaboration with the Shangri La Group introduces Colombo’s biggest entertainment destination with the launch of the new 9- screen property. Redefining movie viewing experience,
PVR Lanka hosts premium formats like PVR LUXE, a luxury cinema format and PVR PlayHouse, a dedicated auditorium for the young ones and their family. Designed with contemporary flair blended with local influences and enabled with technological excellence, PVR aims to introduce the epitome of modern cinema in Sri Lanka.
PVR Ltd. Chairman and Managing Director Ajay Bijli said “Entering Sri Lanka was part of our business strategy for FY 19-20 and I am happy we have been able to make it happen. The socio-cultural similarity between the two nations makes the scope for business growth opulently clear. The vision has been to introduce new concepts and make regional content more accessible for the audience in Sri Lanka. The Indian film industry has grown exponentially in last few years and has a global fan base that we aim to cater to through innovation and expansion.”
The property spreads across two levels with an area of 38,454 sq. ft. and a seating accommodation of 1,139 audiences. It is integrated with modern technological solutions for superior cinematic experience and digital solutions for an enhanced customer experience.
Speaking on the launch, PVR Ltd Joint Managing Director Sanjeev Kumar Bijli said, “We feel very happy to be able to bring PVR’s offerings to Sri Lanka. The market dynamics in Sri Lanka are very similar to that of India which helped us design our product with much more ease. The love for Indian content is huge here and we are aiming to offer a rich and diverse experience to the cine buffs.”
Accompanied with gastronomic extravaganza and best-in-class hospitality services in plush and luxurious seating arrangements, PVR Lanka presents itself as a one stop entertainment destination to the cinema goers. The integration of modern décor with intricate design adds to the grandeur of the new multiplex. An exquisitely designed, bespoke lounge is created for our LUXE audience.
He further added, “Our endeavor was to introduce eagerly awaited, world class cinema formats to offer holistic entertainment to the market. We are very confident that we will be successful in offering unique experiences to the people of Sri Lanka.”
MAM
Paramount set to acquire Warner Bros. Discovery in $81 billion deal
Shareholders back merger, combined entity could reshape streaming and studios.
MUMBAI: Lights, camera… consolidation, Hollywood’s latest blockbuster might be happening off-screen. Shareholders of Warner Bros. Discovery have voted in favour of selling the company to Paramount in a deal valued at $81 billion rising to nearly $111 billion including debt setting the stage for one of the biggest shake-ups in modern media. The proposed merger, still subject to regulatory approvals, would bring together a vast portfolio spanning HBO Max, CNN, and franchises such as Harry Potter under the same umbrella as Paramount’s own heavyweights, including Top Gun and CBS.
At the heart of the deal is streaming scale. Executives have indicated plans to combine HBO Max and Paramount+ into a single platform, potentially creating a stronger challenger to giants like Netflix and Amazon’s Prime Video. Current market data suggests HBO Max holds around 12 per cent of US on-demand subscriptions, compared to Paramount+’s 3 per cent, together still trailing Netflix’s 19 per cent and Disney’s combined 27 per cent via Disney+ and Hulu.
Paramount CEO David Ellison has signalled that while platforms may merge, HBO’s creative identity will remain intact, stating the brand should “stay HBO” even within a broader ecosystem.
Beyond streaming, the deal would redraw the map for film production. Combining two of Hollywood’s oldest studios Paramount Pictures and Warner Bros., the new entity aims to scale output to over 30 films annually, while maintaining a 45-day theatrical window. Warner Bros. currently commands around 21 per cent of the US box office, compared to Paramount’s 6 per cent, underscoring the strategic weight of the acquisition.
But scale comes with scrutiny. Critics warn that fewer players could mean reduced consumer choice, rising subscription costs, and potential job cuts as the combined company looks to streamline overlapping operations while managing billions in debt.
The news business, too, faces a reset. CNN would join forces at least structurally with Paramount-owned CBS, raising questions about editorial independence and positioning. The merger has already drawn political attention in the United States, particularly given perceived ties between the Ellison family and Donald Trump, though the company maintains that newsroom autonomy will be preserved.
If approved, the deal would mark another milestone in Hollywood’s consolidation wave shrinking the industry’s traditional “big six” studios to a “big four”, with Paramount joining Disney, Universal, and Sony at the top table.
In an industry built on storytelling, this merger may well become its most consequential plot twist yet.
