BusinessIndia

Adlabs to buy Cinema Houses in the US

As the Indian movie industry starts to assert itself, the culture exports from India get some new boosters. Adlabs, Ambani’s movie company is set to buy Cinema halls in the US to screen Hollywood and Indian movies. It is a venture that was long overdue! The strengthening Rupee helps as well!

Adlabs Films, which owns a chain of multiplexes across the country, on Monday said it has entered into agreements with several existing cinema properties in the US and will be operating a 200-screen cinema exhibition chain in that country.

According to an official release issued by the company to the Bombay Stock Exchange today, the consolidated chain will have a footprint across the US, covering 28 cities including key Markets in the east, midwest and west coast. These cinema halls will play mainstream Hollywood films, in addition to movies in various Indian languages like Hindi, Tamil and Telugu.

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Desh Kapoor

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