HONG KONG — A trio of unconnected developments this week point to a modernization and further development of India’s still small multiplex cinema sector.
Cinepolis, the Mexican cinema chain, is to open its first IMAX theater in India, the company announced. The giant screen will be part of the 14-screen Viviana multiplex being built in the outer Mumbai suburb of Thane. The announcement takes to 15 the number of IMAX theaters open or under contract to open in India.
Dolby Laboratories and Indian digital cinema integrator Real Image Media Technologies unveiled a deal on Monday for real Image to buy a minimum of 50 Dolby Atmos processors. The Atmos system creates an immersive sound experience and was introduced in early 2012. It has been installed by several Indian chains including PVR, Inox and Mayajaal. Real Image says it will use the Atmos systems throughout its facilities and among clients in the Indian subcontinent. It will also install over 200 Dolby Atmos Cinema Processor CP850 units in client chains, allowing cinemas to be Atmos compatible.
Inox Leisure has begun rebranding the Fame Cinemas chain it acquired some two years ago. The Fame website has been closed and Inox will begin the relabeling process in Mumbai, Bangalore and Kolkata. Some 88 screens at 24 Fame properties will be added to the Inox brand for a combined group with 284 screens in 73 locations.
Inox acquired the privately owned circuit after a prolonged shareholder and courtroom battle with Reliance Big Cinemas. The purchase – temporarily – made Inox the biggest chain in India, though it has since been overtaken by PVR.
“All Fame theatres now have the latest projection technology and are 3D-enabled,” said Inox Leisure CEO Alok Tandon. Tandon also said that the company is busy building further capacity. “We expect to add 45-47 screens across cities like Jaipur, Kolkata, Vizag, Lucknow, Gurgaon and Greater Noida,” he said.
Sofar Sounds has made a name and a business for itself by staging “secret gigs and intimate concerts” featuring emerging artists for an invited, engaged audience — but as detailed in an article in the Talkhouse and a subsequent report in Variety, its model is problematic because it has generated millions in funding yet relies [...]
Edward Rostohar, the longtime manager of the CBS Employees Federal Credit Union, was sentenced on Monday to 14 years in prison for embezzling $40 million. The massive fraud left the credit union insolvent. It was shuttered and taken over by the University Credit Union, which assumed the accounts of 2,800 members. Rostohar pleaded guilty in [...]
UTA raised the curtain Monday on a new corporate logo. The three-dimensional image is meant to emphasize the talent agency’s focus on uniting ideas, opportunities and talent. Building signage with the new logo will go up next month at UTA’s headquarters in Beverly Hills. “Our new identity captures the multiple facets and intersections of our [...]
The FCC has voted to approve Nexstar’s $4.1 billion takeover of Tribune Media, paving the way for Nexstar to become the nation’s largest owner of television stations with more than 200 outlets serving a wide swath of the country. FCC commissioners voted 3-2 to approve the merger agreement that was reached in December. Nexstar’s pact [...]
Endeavor disclosed Monday that it expects a price between $30 and $32 per share for its initial public offering in the fall. Endeavor — the parent company of WME, UFC, IMG, Endeavor Content, Professional Bull Riders and other assets — aims to raise as much as $620 million with the sale of 19.4 million shares. [...]
One person was killed and another was injured Saturday night following a shooting in a Rose Bowl parking lot, the Pasadena police confirmed. According to a statement from the police department, police responded to reports of a physical altercation and shots fired at 11:22 p.m. near the area of Arroyo Boulevard and Seco Street, where [...]
Walt Disney Company chairman and CEO Bob Iger has stepped down from Apple’s board of directors, the iPhone maker announced in a SEC filing Friday afternoon. Iger left the board on September 10, according to the filing — the same day that Apple announced the launch date and pricing of its upcoming subscription streaming service [...]