PVR and Inox to merge

PVR and Inox, India’s top two multiplex chains, announced a surprise merger to create the country’s largest multi-screen player as they looked to emerge from the pandemic-induced slump and seek to tackle the onslaught from content streaming giants.

Ajay Bijli of PVR and Siddharth Jain of Inox Leisure said that the move would help the merged entity—to be called PVR Inox with over 1,500 screens—better compete with the new-age deep-pocketed rivals, and added that the benefits of the synergy may be passed on to consumers in terms of aggressive ticket prices.

“We will become an entity with much stronger balance sheet. There is a lot to be done, and India is still an under-screened country,” said Bijli, who will be the MD of the merged entity.

No comments: