Business Daily from THE HINDU group of publications
Thursday, May 10, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, May 10, 2007 ePaper |
|
|
|
|
|
|
|
Marketing
-
Strategy Corporate - Overseas Borrowings Mediaone mulls raising Rs 90-cr funds Our Bureau
Chennai May 9 Mediaone Global Entertainment Ltd has acquired a cinema, Balaji, in Kanchipuram near Chennai. Announcing this at a press conference here today, the company's Managing Director, Mr Suryaraj Kumar, said the company will spend Rs 30-35 lakh on refurbishing the auditorium with digital projectors, air-conditioner and so on.
To Buy more theatres
Mediaone also plans to buy more theatres in the months to come. "We are already in talks with three theatres in the Chenglepet district," he said. The BSE-listed company plans to raise Rs 90 crore through private equity placement and FCDs (foreign currency deposits). Fifty per cent of the funds thus raised will be utilised for buying more theatres on outright basis and the remaining will be utilised for producing films.
Co-producing film
Mediaone, which is into production, distribution and exhibition of films, is currently co-producing a Tamil film called Dhaam Dhoom. It is also, through its wholly owned subsidiary in the UK, producing an English film titled Telling Lies. It is planning to dub its earlier film Aishwarya Rai-starrer Provoked into Tamil and Telugu soon, he said. According to Mr Kumar, the film had done quite well in the international market, and is all set to be launched in the US shortly. Apart from that, Mediaone produces content for Raj TV, Sony and ETV.
Distribution
For distribution of Bollywood films in Karnataka, it has tied up with Bhagyalakshmi Films in that State. "We are planning similar tie-ups in Tamil Nadu and Andhra Pradesh too," Mr Kumar said.
More Stories on : Strategy | Overseas Borrowings | Entertainment & Leisure
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|