PVR acquires SPI Cinemas: A reading between the lines
| Amit Mehta | - @AmitKO84
“PVR buys Sathyam Cinemas!”
Multiple Whatsapp groups are buzzing with messages about the big acquisition. Only people associated with Chennai (like me) will understand that these messages are not from sharing news from a business standpoint but due to an emotional quotient.
“What will happen to Sathyam Popcorn?!” — a question asked by everyone from my mother to a close friend. This message clearly echoes the sentiment created by Chennai’s most beloved cinema chain.
Where else will you find these sentiments?
Let’s break the topic down and see why it all adds up.
Setting the scene #
PVR Cinemas, India’s largest multiplex chain (with 638 screens) will be acquiring close to 72% of SPI Cinemas, south India’s largest cinema chain (with 76 screens) in a deal valued at INR 850 cr (over USD 122 m). SPI Cinemas owns the iconic Sathyam Cinemas in Chennai.
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