Era Group, Star TV in talks to jointly enter multiplex biz
Engineering and construction major Era Group is talking to Star TV to rope in the media house for its foray into the multiplex management business.
By PTI |
NEW DELHI: Engineering and construction major Era Group is talking to Star TV to rope in the media house for its foray into the multiplex management business.
While Star would lend its name to the multiplexes, Era would carry out construction and run the properties.
Era Group, which is running a few screens in Meerut and Agra, plans to focus on this business in a big way and bring over 120 screens under its management in the next three years.
"We are talking to media group for the business. While the cinemas will be branded as Star, we will invest and run them," Era Group Chairman H S Bharana said.
Attempts to get in touch with Star TV officials did not yield results.
The company would thus manage about 30-35 multiplexes in the time period and include even those cinemas which would be built by other real estate developers.
"About half of the properties will be constructed and owned by us while the rest would belong to other real estate companies," Bharana said.
Era also plans to strike long-term deals with major real estate players which are developing malls and multiplexes to run all the screens coming up in their projects.
While Star would lend its name to the multiplexes, Era would carry out construction and run the properties.
Era Group, which is running a few screens in Meerut and Agra, plans to focus on this business in a big way and bring over 120 screens under its management in the next three years.
"We are talking to media group for the business. While the cinemas will be branded as Star, we will invest and run them," Era Group Chairman H S Bharana said.
Attempts to get in touch with Star TV officials did not yield results.
The company would thus manage about 30-35 multiplexes in the time period and include even those cinemas which would be built by other real estate developers.
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"About half of the properties will be constructed and owned by us while the rest would belong to other real estate companies," Bharana said.
Era also plans to strike long-term deals with major real estate players which are developing malls and multiplexes to run all the screens coming up in their projects.
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