Financial Daily from THE HINDU group of publications
Saturday, Jul 12, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 12, 2003 |
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Corporate
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Alliances & Joint Ventures Mukta Arts, Adlabs form joint venture Our Bureau
Mumbai, July 11 MUKTA Arts Ltd and Adlabs Films Ltd have announced that they have set up a 50:50 joint venture, Mukta Adlabs Digital Exhibition Ltd which will target to update 400 B class theatres across India within the next one year. The companies did not disclose the amount of investment they are making in this project. The joint venture company will immediately update 100 theatres in the States of Punjab, UP, Bengal and Bihar. "This new technology of digital projection through hard discs will avoid the use of film prints which costs between Rs 50,000-60,000. It will allow audiences of B and C class centres to watch films on the day of the release,'' a press release said.
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