Entertainment Sector

Warner’s deal with Redbox

warner brosAmidst the declining pattern of home entertainment, Warner Brothers has banged a deal with Redbox, the DVD store to protect its DVD sales.

Redbox buys DVDs of Hollywood movies and rents them at a far low discount in the stores or kiosks outside the marts and shopping malls, all across the U. S.

PVR calls off bid

PVR calls off bidPVR Cinemas has called off a buy out wherein it was supposed to takeover DLF Group's, DT Cinema. In a statement given to the Bombay Stock Exchange, the multiplex company said that it has terminated an agreement with DLF which required it to take over its cinema exhibition business.

INOX Buys 43.28% Stake In Fame, Shares Surge 10.9%

INOX Buys 43.28% Stake In Fame, Shares Surge 10.9%Multiplex operator INOX Leisure, a wholly division of Gujarat Fluorochemicals, announced that it has bought 43.28% equity stake in Fame India for Rs 66.48 crore.
Inox will purchase around 1,50,57,760 shares of Fame India for Rs 10 each, through a block trade in a single or multiple portions.
This acquirement will be accompanied by an open offer to get hold of another 20% in Fame India by making an open offer to the stock holders
The deal is completely funded by Gujarat Fluorochemicals.

Recession notwithstanding, British film industry booming

Recession notwithstanding, British film industry boomingLondon, Oct 16 Britain's film production is holding up well despite the global economic downturn, collapse in the pre-sales market, drop in advertising budgets and faltering DVD sales.

While 61 films were made in the first nine months last year, this year saw 62 come out during the like period. Also, the number of inward investment films increased from 22 to 28.

Disney profit falls across TV, film and theme parks

Disney profit falls across TV, film and theme parks Los Angeles - Third quarter profits fell 26 per cent at Disney, as the global recession hit the world's largest media company at its theme parks, television stations and film studio.

The Los Angeles-based company said Thursday that it earned 954 million dollars compared to 1.28 billion dollars in the year-ago period. Sales declined 7 per cent to 8.6 billion dollars from 9.2 billion dollars in the same period last year.

Massachusetts businessman secures $5 million from Midway’s sale to Warner Bros.

Massachusetts businessman secures $5 million from Midway’s sale to Warner Bros. A Massachusetts businessman, Mark E. Thomas, who had made a $100,000 investment in Midway Games Inc in November, acquiring an 87 percent stake in the company, has managed an unbelievable 4,900 percent return on his eight-month investment - securing almost $5 million from Midway's sale to Warner Bros.!

Zee Entertainment Q1 net profit dips 43%

Zee Entertainment Q1 net profit dips 43% Zee Entertainment Enterprises has registered a fall of 43% in its consolidated net profit for the first quarter ended June 30 to Rs 91.32 crore over the corresponding period a year ago. The company had posted a consolidated net profit of Rs 160.71 crore during the June quarter a year ago.

Further, the consolidated total income of the company also fell to Rs 508.44 crore during the 3 month period ended June 30 from Rs 569.76 crore in the same quarter a year earlier.

Big TV to showcase MJ's Live In Bucharest concert

Michael Jackson's Live in BucharestAnil Dhirubhai Ambani Group (ADAG) promoted Reliance Big TV has signed a four week content agreement with Sony Music to showcase Michael Jackson's Live in Bucharest: The Dangerous Tour on its PPV service.

The DTH service provider will premiere the concert on 12 July.

The company claims that this is the first non-film premiere on the DTH platform in the country.

Big TV, having a user base of 1.8 million, plans to drive its PPV revenues through differentiated content acquisitions. This includes non-film content on its PPV platform.

Pyramid MD Arrested And Released On Bail

Pyramid MD Arrested And Released On Bail  A team of Haryana police on Monday arrested S Saminathan, MD of Pyramid Saimira in charges of cheating a finance firm. He was later released by Tambaram court on conditional bail.

Pyramid Saimira had borrowed Rs 60 crore from India Bulls Financial Services and the repayment cheque had bounced.

The Haryana police arrested Saminathan from his house in Chennai.

Meanwhile, N. Narayanan, Chairman of Pyramid Saimira had said that there was a misunderstanding on the terms of settlement between Indian Bulls and his company.

Film companies flocking to YouTube

After more than six months of Google's launch of YouTube — its video-sharing platform — in India, the local content companies are finally embracing the medium with much zeal.

As Google gives more freedom to content firms to 'brand' their videos on their respective channels, some old-world movie producers and distributors such as Rajshri Films, Shemaroo Entertainment and Eros Pictures are finally warming up to the idea.

They have put in place special teams to develop content to be put on YouTube and other sites on the Internet.

Eros Pictures, listed on the London Stock Exchange's Alternate Investment Market (AIM), has set up a unit of around 25 people to make content associated with its movies.

Big Music inks home-video licensing pact with Paramount

Big Music inks home-video licensing pact with ParamountReliance Anil Dhirubhai Ambani Group's Big Music & Home Entertainment has inked an exclusive home-video licensing agreement with Paramount Home Entertainment.

The latest pact was earlier associated with RPG-owned SaReGaMa in India.

As per view of technical experts, the agreement gives the Big Music & Home Entertainment exclusive home-video distribution rights for Paramount Home Entertainment, DreamWorks Animation SKG and DreamWorks Pictures in Indian and Sri Lankan market.

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