Business Daily from THE HINDU group of publications
Saturday, Mar 10, 2007
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Business Daily from THE HINDU group of publications Saturday, Mar 10, 2007 ePaper |
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Corporate
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Outlook Adlabs Films plans to focus on South K.V. Kurmanath
Hyderabad March 9 As part of its nationwide expansion plans, Anil Ambani-promoted Adlabs Films has set its eyes on the South for both setting up multi-screen cinemas and producing films. The company, which runs two IMAX theatres, 13 cinemas and 50 screens mostly in the West and North, is now contemplating to focus on the South too. "By the end of 2007-08, we would look to have a total of 116 screens across the country," an Adlabs spokesperson told Business Line.
Signing Agreements
The company, which has already announced a tie-up with Sujatha Cine Arts of Chennai to make the film `Kireedam', is engaged in talks in Andhra Pradesh too. It has already announced that Hyderabad is among the top 10 cities in the country for setting up multi-screen cinemas. In the second phase, it would target tier-II cities. The buzz in the Telugu film industry is that the company is scouting for a few cinemas in the State, which is among the top three filmmaking States in the country. While terming the reports as `exaggerated', the spokesperson confirmed that the company, in fact, was exploring opportunities. "As we did in Tamil Nadu, we are looking at reputed and experienced production houses for signing agreements," the spokesperson said. A leading exhibitor from Rayalaseema, on condition of anonymity, said that the company did approach him for taking over or leasing out his cinema. "They are aggressively talking to several cinema owners in the region," he said.
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