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
WBD sets April 23 vote on $110bn Paramount Skydance merger
Investor approval key step, but regulators loom over mega media deal
NEW YORK: Warner Bros. Discovery has set April 23 as the date for shareholders to vote on its proposed $110 billion merger with Paramount Skydance, marking a crucial step in one of the biggest media deals in recent years.
The all-cash transaction offers WBD shareholders $31 per share, a hefty 147 per cent premium to its unaffected stock price, signalling strong intent to push the deal across the finish line. The company’s board has unanimously backed the merger and is urging investors to vote in favour.
Even if shareholders give the green light, the deal is far from done. Regulators in the United States and Europe are expected to scrutinise the merger closely, weighing concerns around competition and potential price impacts for consumers.
To keep investors on side, WBD has built in a safety net. If the deal is not completed by September 30, shareholders will receive a quarterly “ticking fee” of $0.25 per share until closure.
The proposed merger would significantly reshape the media landscape, combining the assets of Warner Bros. Discovery with those linked to Paramount Global and Skydance Media. It would also cement the growing influence of David Ellison, who has been steering Skydance’s aggressive expansion strategy.
“The WBD Board has been guided by the singular principle of securing a transaction that maximises the value of our iconic assets and delivers as much certainty as possible to our shareholders,” said Warner Bros. Discovery board chair Samuel A. Di Piazza Jr.. “This historic transaction will expand consumer choice and create new opportunities for creative talent.”
Warner Bros. Discovery chief executive officer David Zaslav added that the company is working closely with its counterpart to close the deal and unlock value for stakeholders.
With investor backing likely but regulatory hurdles ahead, the proposed merger is shaping up to be a defining moment for the global entertainment industry, where scale, content and competition are increasingly intertwined.
