Hindi
PVR terminates deal to acquire DLF’s cinema biz
MUMBAI: Delhi-based cinema exhibition major PVR has terminated the deal to acquire DLF Group‘s cinema business, a reversal of its earlier plan to grow in size through the buyout of DT Cinemas.
Blaming DLF for not meeting the conditions required for acquisition, PVR said Monday that both the parties have mutually agreed to end the deal. “The primary reason for us to call off the deal is that DT Cinemas has failed to comply with certain conditions, even after we extended the time till today,” PVR CFO Nitin Sood tells Indiantelevision.com.
Another possible reason cited by analysts is that the shares of PVR soared as the market conditions improved, indirectly jacking up the price of the deal.
PVR had signed the pact with DT Cinemas in November last year to acquire the company in a stock-and-cash deal. PVR was to issue 2.56 million shares to DT Cinemas representing 10 per cent of the fully diluted paid up share capital of PVR Ltd and make a payment of Rs 202 million to fund the acquisition.
PVR is now trading at Rs 175 per share, up from Rs 138 at the time of the announcement of the deal.
DT cinemas has a current portfolio of 29 screens with 26 screens currently operational and another three screens expected to commence operations in the next six months.
PVR will, however, continue to aggressively look at acquisitions. “We are looking aggressively for inorganic opportunities,” says Sood.
The multiplex industry is entering into a phase of consolidation as huge funds are required to spread the footprint across the country. Inox Leisure recently bought out the promoters and took a majority stake in Fame India, a move that made it the largest multiplex operator in terms of revenue.
Hindi
Jio Studios, Sanjay Dutt team up to revive Khal Nayak
Rights acquired for new version, format under wraps as remake plans take shape.
MUMBAI: The villain is back and this time, he’s rewriting his own script. Jio Studios has partnered with Three Dimension Motion Pictures and Aspect Entertainment to revive the 1993 cult classic Khal Nayak, marking a fresh chapter for one of Bollywood’s most iconic anti-hero stories. The original film, directed by Subhash Ghai under Mukta Arts, was a commercial and cultural milestone, with Sanjay Dutt’s portrayal of Ballu becoming one of Hindi cinema’s most memorable performances.
Dutt, along with Aksha Kamboj, has now acquired the rights from the original creators, bringing on board Jio Studios and its President Jyoti Deshpande to steer the project creatively.
While the exact format whether remake, sequel, prequel, or a completely new narrative remains undisclosed, the collaboration aims to reinterpret the story for contemporary audiences while retaining the essence that made the original a defining film of the 1990s.
The move taps into a broader industry trend of reviving legacy intellectual property, particularly characters with strong recall value. “Khal Nayak” was notable for pushing mainstream Hindi cinema into morally grey territory at a time when heroes were largely one-dimensional, making Ballu’s character a standout.
The project also marks the film production debut of Aspect Entertainment, signalling a push towards more technology-led storytelling frameworks. Meanwhile, Jio Studios continues to expand its slate, having built a library of over 200 films and series, with more than 60 titles collectively winning 500-plus awards.
For Dutt, the revival is as much personal as it is strategic, a return to a role that reshaped his career. For the industry, it is another sign that nostalgia, when paired with scale, remains a powerful box-office proposition.
Because in Bollywood, some villains never fade, they just wait for the perfect comeback.
