Carnival Cinemas targets 1000 screens by 2016; to foray into film production & distribution

MUMBAI: Carnival Cinemas, which has taken the acquisitions route to spread its footprints across the country, is eyeing a total screen count of 1000 by 2016. The multiplex chain currently operates 300 screens in over 82 cities and is looking to pump in a sum of Rs 800 – 900 crore to reach the 1000 screen milestone.

What’s more, sources close to the development inform Indiantelevision.com that Carnival Cinemas is also aggressively making in-roads in film production and distribution. The group has already started working on three South Indian film projects and has aspirations of making their first Bollywood movie in next three – six months. However, while the company is in talks with several directors, it is yet to zero in on its first commercial script.

Carnival Cinemas has roped in Ssarita Singh as business head of its motion pictures division to spearhead the production initiatives.

The Shrikant Bakshi owned Carnival Cinemas recently acquired the multiplex business of Housing Development and Infrastructure Ltd (HDIL) for a little over Rs 100 crore. It has also lapped up Big Cinemas multiplex chain from Anil Ambani’s Reliance MediaWorks for approximately Rs 700 crore. The chain also pocketed Star Gaze’s Glitz Cinemas from Mukesh Ambani-controlled Network 18 Media and Investments Ltd.