Stewart Blair, chairman and CEO of United Artists Theater Circuit, and K.K. Modi, chairman of the Modi Group of India, have signed a memorandum of understanding to develop cinema-based entertainment complexes in India.
The joint venture aims to renovate existing theaters and set up a national chain of multiplex theaters as family and community entertainment centers. The complexes will include up-to-date moviehouses, virtual reality simulators, Showscan theaters, restaurants and entertainment venues. The cinemas will screen Indian, U.S. and other movies made abroad.
Warner Bros, and Village Roadshow also have each entered into agreements to develop cinema-entertainment complexes in India.
India’s existing houses are old, cramped and outmoded, and kept in moldy, ill-equipped condition.
Building smaller, more elegant cinemas located in one complex and bringing in other family pastimes alongside them is what these new ventures plan to do in order to attract the country’s enormous middle class.