PVR to acquire DT Cinemas for Rs 500 Cr & Da Vinci Media in JV with Raghav Bahl for channel launch
PVR to acquire DT Cinemas for Rs 500 Cr
MUMBAI: Multiplex major PVR Ltd is acquiring DT Cinemas for Rs 500 crore (Rs 5 billion).
The board of the multiplex company has approved the exhibition of DLF Utilities Ltd, the holding company of DT Cinemas.
Accordingly, PVR has executed definitive agreements with DLF Utilities to acquire its cinema exhibition business on slump sale basis for an aggregate consideration of approximately Rs 500 crore.
Da Vinci Media in JV with Raghav Bahl for channel launch
MUMBAI: Media entrepreneur Raghav Bahl is getting back into the television business. His company The Quint and Da Vinci Media have formed an equal joint venture company in India.
Da Vinci Media, the parent company of Da Vinci Learning, is planning to launch its kids channel in India. It has applied for licence and is awaiting government approval.
The JV is for the channel’s launch in India and for a complete horizontal digital multimedia edutainment platform.