BIG Cinemas up for sale?
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Monday, 11th August, 2014, 05:50 PM IST The grapevine is abuzz with rumours of BIG Cinemas being on sale. We have heard that Reliance Media Works, which controls the theatre chain, is in talks with other chains namely PVR and Inox in a bid to bring one of the other multiplexes on board as a majority partner.
A source informed, “Exhibition is not the core business of Reliance Media Works which is why the wish to merge it with a company whose core competence is exhibition. The company will remain a minority partner but will focus more on infrastructure and telecom, reaping the benefits of the merger in the long run.” Daljeet Singh, spokesperson for Reliance Media Works said, “There are no plans to sell the multiplex business but we are considering various options of value creation by unlocking value of our non-core assets, on the lines of a recently concluded deal whereby the company merged its film and media business with Prime Focus.” |