Movies
PVR opens 3 new multiplexes in Jaipur, Bengaluru and Gurugram
Mumbai: Multiplex operator PVR Cinemas has reached 900 screens in its 25-year journey across 181 properties in 78 cities. PVR has opened three new multiplexes in Jaipur, Bengaluru, and Gurugram, with a total of 19 screens. The opening of these cinemas is in accordance with the expansion strategy of the company to open over 100 screens in the current financial year.
Adding a new city to its national circuit, PVR marks its debut in Jaipur with the launch of its eight-screen multiplex, the largest in Rajasthan, unveiling its fourth property while introducing premium screen formats like 4DX and Luxe for the first time in the state. The property located at the Mall of Jaipur has a seating capacity of 944 audiences with recliners and theatrical solutions including SP4K laser projectors, Dolby Atmos audio, and 3D technology.
Further expanding its footprints across the country, PVR announces the opening of its 13th property in Bengaluru and 17th in the state of Karnataka with a seven-screen multiplex at Bhartiya Mall of Bengaluru at Bhartiya City with a seating capacity of 1343 audiences and premium screen formats, including the fifth 4DX and second P[XL] in Bengaluru.
PVR enhanced its screen portfolio in Gurugram with the launch of its seventh property in the city and its 12th property in Haryana, Elan Town Centre. This is a four-screen multiplex with a seating capacity of 561 audiences with last row recliners, SP4K laser projectors, Dolby 7.1 audio, and 3D technology.
PVR chairman and MD Ajay Bijli said, “It is a moment of great pride for us at PVR to reach the 900-screen milestone, which is a result of the support that we have received from our patrons, partners, developers, and our teams over the past 25 years. With the opening of the three new properties in a single day, we have successfully reached 63 screens in our overall commitment of opening 100 screens by FY 2023. As we prepare ourselves for the year ahead, which we believe is the year of cinema entertainment, we are gearing up to enthral our patrons across the country with an out-of-home entertainment experience like never before.”
PVR added that it pioneered the multiplex revolution in India in 1997 and, over the years, has continued to stay relevant to the evolving preferences of consumers, changing times, and the ever-changing entertainment landscape.
‘’It is indeed a momentous day for us as we reached the magical milestone of 900 screens. PVR benchmarks itself with the best in the world and is constantly exploring for invigorating new experiences that are meaningful to audiences. We are now looking forward to the next milestone of 1,000 screens and are fueled with the passion to provide a more delightful cinematic experience to people across geographies and demographics,” said PVR joint MD Sanjeev Kumar Bijli.
Hollywood
Paramount Skydance secures financing for Warner Bros Discovery deal
Debt syndication and new loans push $111 billion merger closer to close
WASHINGTON: Paramount Skydance has taken a major step towards its planned acquisition of Warner Bros Discovery, securing fresh financing and completing the syndication of its bridge loan facility.
In a filing with the Securities and Exchange Commission, the company confirmed that the bridge facility has now been distributed among a group of 18 banks, reducing total commitments to $49 billion from an earlier $54 billion. The move spreads risk across lenders and signals growing confidence in one of the year’s largest media deals.
Alongside this, the company has finalised permanent financing arrangements, including $5 billion in senior term loans and a $5 billion revolving credit facility. A previously planned $3.5 billion credit line has been dropped as part of the restructuring.
The loans are secured against key assets, including Paramount Global, Skydance Media and Warner Bros post-merger, underlining the scale and complexity of the transaction.
The financing push follows a competitive bidding process earlier this year, which saw interest from players such as Netflix before Paramount Skydance emerged as the frontrunner. The deal, valued at $111 billion, is expected to close in the third quarter, subject to regulatory approvals.
Adding to the momentum, the company has also secured significant equity backing, including investments from Middle Eastern funds, with support from billionaire Larry Ellison, who has guaranteed the equity portion of the transaction.
Commenting on the development, Paramount Skydance chief strategy officer Andy Gordon said, “Our successful debt syndication and new debt facilities represent another important milestone towards the completion of our acquisition of Warner Bros Discovery.”
Once completed, the combined entity is expected to carry net debt of just under $80 billion, reflecting the sheer scale of the merger.
As Hollywood continues to consolidate in the streaming era, this deal could reshape the competitive landscape, with Paramount Skydance betting big on scale, content and financial muscle to take on global rivals.
