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Friday, November 30, 2007
Thursday, November 29, 2007
Pyramid Saimira Press Coverage’s
The growth is always consistent.
Pyramid saimira has given its best shot once again by having Cines Advertsing on board for implementing future advertising related projects.,this acquisition is going to create a very big pardigm shift and bring about a remarkable change in the media as a whole-
Pyramid Saimira Press Coverage’s
The Economic Times
Pyramid Saimira buys 51% in Dimples Cine
MUMBAI: Pyramid Saimira, the entertainment company, has acquired 51% in the Mumbai-based Dimples Cine Advertising & Dimples Cine Activations for an undisclosed sum. Dimples Cine will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira group. Kamal Karamchandani, joint managing editor, Dimples Cine Advertising & Dimples Cine Activations, said: “The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration, coupled with growing digitalisation of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens. The Pyramid Saimira group now has access to 703 screens globally. Dimples Cine has more than 200 screens rights for advertisements. With this, any advertiser will have access to approximately 1,000 screens as of now across India, which is an unparalleled reach. “Dimples Cine is one of the biggest cinema advertisement companies with end-to-end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost-effective advertising solutions in all key markets of India,” he added. PS Saminathan, MD, Pyramid Saimira Theatre, said: “As the content industry is becoming more atomised and pull-oriented, the challenges for an advertiser to be visible on all the media vehicles assume greater importance with the proliferation of television channels and other exposure outlets such as Internet and cinema advertising companies with end-to-end expertise. Pyramid with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theatres across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. Pyramid will become a one-stop entertainment super market.” Pyramid Saimira plans to roll out close to 4,000 digital screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India.” said Mr Saminathan.
http://economictimes.indiatimes.com/News/News_By_Industry/Media__Entertainment_/Pyramid_Saimira_buys_51_in_Dimples_Cine/articleshow/2580018.cms
Buisiness Standard
Pyramid Saimira buys 51% in Dimple Cine
Pyramid Saimira has acquired 51% stake in the Mumbai-based advertising firm, Dimple Cine. Dimple Cine is having presence all over India and is a one-stock cinema solution provider for both on-screen and off-screen. Share price of Pyramid Saimira slipped by 1.78% and was trading at Rs 359 on the Bombay Stock Exchange at 1050 hrs.http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=30601
The Hindu Business Line
Pyramid Saimira acquires cine advertising co
CHENNAI: Pyramid Saimira Theatre Ltd on November 28 announced the strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt Ltd and Dimples Cine Activations.
The Pyramid Saimira Group has acquired 51 per cent stake in the company for an undisclosed sum.
Mr P.S. Saminathan, Managing Director, said: "We are extremely happy to announce the acquisition of Dimples Cine Advertising."
Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations, through which Dimples will have access to 4,000 digitally targetable screens by 2010.
"Through this acquisition, we aim to be a major media and advertisement vehicle in India," said Mr Saminathan. - Our Bureau
http://www.thehindubusinessline.com/blnus/02281425.htm
Livemint.com
Pyramid Saimira acquires ad firm Dimples Cine
Dimples Cine Advertising is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns
Mumbai: Entertainment firm Pyramid Saimira Theatre on 28 November 2007 said it has acquired majority stake (51%) in city-based ad agency Dimples Cine Advertising in an all-cash deal for an undisclosed amount.
“We are extremely happy to announce this strategic acquisition of Dimples Cine and welcome employees of Dimples into the Pyramid Saimira family. Through this acquisition, we aim to be a major media and advertisement vehicle in India,” Pyramid Saimira managing director P S Saminathan said.
Dimples Cine Advertising has an all-India presence and is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.
Dimples Cine Advertising would continue to remain headquartered in the city, while becoming a part of the Pyramid Saimira Group universe.
“Pyramid Saimira, with its presence in all streams of entertainment business in India, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella.
Pursuant to this acquisition, Dimples would have access to 4,000 digitally targetable screens by 2010,” Saminathan added.
The board of directors at its meeting on 10 November 2007 approved the acquisition of Dimples Cine, Pyramid Saimira said in a filing to the Bombay Stock Exchange.
Keynote Corporate Services was the advisor to Pyramid Saimira for this transaction.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainment America Inc.
Shares of Pyramid Saimira were trading at Rs357.70, down 2.15%, on the BSE in the afternoon trade.
http://www.livemint.com/2007/11/28152120/Pyramid-Saimira-acquires-ad-fi.html
Hindu.com
Pyramid Saimira buys Dimples Cine
MUMBAI: Pyramid Saimira Theatre on Wednesday said it had acquired a majority stake of 51 per cent in ad agency Dimples Cine Advertising in an all-cash deal for an undisclosed amount.
http://www.hindu.com/2007/11/29/stories/2007112956931700.htm
Agencyfaqs.com
Pyramid Saimira acquires 51%stake in Dimples cine Advertising
Pyramid Saimira, a South based multinational entertainment company, has announced its strategic acquisition of Mumbai based Dimples Cine Advertising and Dimples Cine Activations. As per the details of the acquisition, the Pyramid Saimira Group has acquired a 51 per cent stake in the company for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe. Kamal Karamchandani, joint managing director, Dimples Cine Advertising and Dimples Cine Activations, says, “We are glad to be associated with one of the fastest growing entertainment companies. Cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration coupled with the growing digitalisation of theatres.”
Pyramid Saimira has more than 44 multiplexes – 703 screens – across India, Malaysia, Singapore and North America. By 2010, it plans to have access to 4,000 digitally targetable Pyramid and non-Pyramid screens. Dimples will have access to all Pyramid properties under the agreement. PS Saminathan, managing director, Pyramid Saimira, says, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family.” Though a 51 per cent stake has been acquired, Dimple Cine Advertising will continue to expand independently as a non-Pyramid Saimira entity. The group intends to get into the digital and OOH space, too, now that they’ve acquired a major stake in Dimple Cine Advertising. “As the target is within the confines of a theatre and cannot switch channels, the measurement is absolute,” says Saminathan. The total ticket sales, he says, is a direct ratio to the number of eyeballs and footfalls. This serves as a good measurement technique. As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations. “As the content industry is becoming more atomised and pull oriented, the challenges for an advertiser to be visible on all media vehicles assumes greater importance with the proliferation of television channels and other exposure outlets such as Internet and cinema advertising,” explains Saminathan. Recently, Pyramid Saimira acquired the Texas based FunAsiA through its subsidiary, Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston. The Pyramid Saimira Group operates in more than four countries. It is present in film exhibition, film production, television content production, film distribution, advertisement, media, food and beverages etc. It has five companies: Pyramid Saimira Productions; Pyramid Saimira Theatre Chain, Malaysia; Pyramid Saimira Entertainment, Singapore; Pyramid Saimira Entertainment America, Inc. and Saimira Realty Private. For the record, Dimples Cine Advertising is a total cinema solution company offering services for both on-screen advertising and off-screen advertising. It has a pan India presence, having branches in 16 cities in India.
http://www.agencyfaqs.com/cgi-bin/re.html?u=http://www.agencyfaqs.com/perl/news/index.html?sid=19801
Myiris.com
Pyramid Saimira to buy 51% stake in Dimple Chie
Chennai-based multiplex chain operator Pyramid Saimira (Q.N.C.F)* Theatre` board approved the acquisition of 51% stake in Mumbai-based Dimple Chie Advertising for cash.
The company did not disclose the deal size.
Dimple Cine Advertising is having all-India presence and is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.Keynote Corporate Services acted as the advisor to the company on this transaction.
Shares of Pyramid Saimira declined Rs 3.65, or 1%, to trade at Rs 361.9. The total volume of shares traded was 173,701 at the BSE. (11.01 a.m, Wednesday).
http://www.myiris.com/newsCentre/newsPopup.php?fileR=20071128111001130&dir=2007/11/28&secID=livenews
Yahoo.com
Pyramid Saimira buys 51 pct in Dimple Cine
MUMBAI, Nov 28 - Theatre chain operator Pyramid Saimira Theatre Ltd said on Wednesday it acquired 51 percent stake in Dimple Cine Advertising Pvt Ltd.
http://sg.news.yahoo.com/rtrs/20071128/tbs-dimple-pyramid-acquisition-7318940.html
Exchange4media.com
Pyramid Saimira acquires 51 per cent stake in Dimples Cine Advertising
Pyramid Saimira Theatres Ltd (PSTL), a multinational entertainment company, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. PSTL has acquired 51 per cent stake in the company, for an undisclosed sum. Dimples Cine Advertising will continue to be headquartered in Mumbai.
Commenting on the acquisition, Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising, said, “It gives us great pleasure to be allied with Pyramid Saimira, which is by far the fastest growing entertainment company in the country today. The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies, coupled with growing digitisation of theatres with ability to broadcast, as well as monitor the advertisements exhibited in the screens.”
PSTL currently has access to 703 screens globally, while Dimples Cine Advertising has advertising rights for more than 200 screens. Karamchandani added that this acquisition meant that any advertiser would have access to approximately 1,000 screens now across India, which was an unparalleled reach. “Dimples Cine Advertising is one of the biggest cinema advertisement companies with end-to-end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost effective advertising solutions in all key markets in India,” he said.
PS Saminathan, Managing Director, PSTL, said, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising, and welcome the employees of Dimples Cine into the Pyramid Saimira family. As the content industry is becoming more atomised and pull-oriented, the challenges for an advertiser to be visible on all the media vehicles assumes greater importance with the proliferation of television channels and other exposure outlets such as Internet, cinema advertising, etc. With its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theatres across the country, Pyramid Saimira is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one-stop entertainment super market.”
As per details of the acquisition, PSTL will roll out a massive business plan for Dimples Cine Advertising, through which the latter will have access to a target of 4,000 digital screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India,” added Saminathan.
Keynote Capital Ltd was the advisor to PSTL for this acquisition. Recently, PSTL had acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainment America, Inc. PSTL also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
Pyramid Saimira Group is an Indian multinational entertainment company that operates in over four countries. It is present in film exhibition, film production, TV content production, film distribution, advertisement, media, food and beverages, etc. It has over five companies namely, Pyramid Saimira Productions Limited (PSTL), Pyramid Saimira Theatre Chain Malaysia Sdn Bhd; Pyramid Saimira Entertainment Limited, Singapore; Pyramid Saimira Entertainment America, Inc. and Saimira Realty Pvt. Ltd.
http://www.exchange4media.com/OutOfHome/news.asp?section_id=26&news_id=28765&tag=23672&pict=7
The Telegraph Pyramid Saimira buys ad firm
Mumbai, Nov. 28: Entertainment firm Pyramid Saimira Theatre Ltd has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations for an undisclosed sum.
Dimples Cine Advertising will continue to have its headquarters in Mumbai.
Recently, Pyramid Saimira acquired Texas-based FunAsia through its subsidiary Pyramid Saimira Entertainment America. Pyramid Saimira also bought an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
Pyramid Saimira managing director P. S. Saminathan said, “The challenges for an advertiser to be visible on all media vehicles assume greater importance with the proliferation of television channels and other forms such as internet and cinema advertising.”
“Pyramid Saimira, with its strong presence in all streams of entertainment business in India, is in a position to provide almost all the requirements of an advertiser or an agency under one umbrella. In short, Pyramid Saimira will become a one-stop entertainment super market,” Saminathan added.
The board of directors at its meeting on November 10 approved the acquisition of Dimples Cine, Pyramid Saimira said in a filing to the Bombay Stock Exchange.
Pyramid Saimira will roll out a business plan for Dimples Cine Advertising Pvt Ltd and Dimples Cine Activations. After the acquisition, Dimples Cine will have an access to 4,000 digitally targetable screens by 2010.
According to reports, Pyramid Saimira Entertainment Ltd, a Singapore-based subsidiary of Pyramid Saimira Theatre Ltd, plans to raise $75 million through private equity investors.
Another subsidiary Pyramid Saimira Productions Ltd, engaged in film and television production, plans to float an initial public offering to raise Rs 150 crore.
Pyramid Saimira Productions will dilute 10-12 per cent equity through the public float. The proceeds will be used to expand its film and TV production businesses.
http://www.telegraphindia.com/1071129/asp/business/story_8605111.asp
Congoo.com
Pyramid Saimira buys ad firm
Mumbai, Nov. 28: Entertainment firm Pyramid Saimira Theatre Ltd has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations for an undisclosed sum. Dimples Cine Advertising will continue to have its headquarters in Mumbai. Recently, Pyramid Saimira ac...
http://www.congoo.com/news/2007November28/Pyramid-Saimira-acquires-firm-Dimples
Indiantelevision.com
Pyramid Saimira buys 51% in Dimples Cine Advertising; plans UK subsidiary
MUMBAI: Pyramid Saimira Group has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising and Dimples Cine Activations for an undisclosed amount.
Dimples Cine promoter Kamal Karamchandani will further dilute 23 per cent through private placement. "We will retain 26 per cent and dilute the rest to other investors. The valuation is confidential at this stage," says Karamchandani.
Pyramid Saimira expects the topline to benefit by Rs 1.5 billion in FY'09 due to the acquisition of the cinema Advertising company. "Dimples Cine will automatically reach out to 1000 theatres and have geographical and customer diversity. Besides, they will also be targeting business from non Pyramid theatres. We are aiming at a topline rise of Rs 1.5 billion from this in FY'09, says Pyramid Saimira Theatre MD PS Saminathan.
Dimples Cine, which offers services for both on-screen as well as off-screen advertising, has rights to 250 screens for advertisements. Pyramid currently has 703 screens.
The target is to have access to 4,000 screens by 2010, Saminathan said. Pyramid plans to have grown to 2000 screens by then. "We plan to ramp up Dimples' access to 4000 theatres. We will have signage as well as out-of-home content. The advantage is that we will have content, distribution and marketing under one umbrella. This also brings a huge ability for us to cross promote on the platform because we have theaters, films, TV news media as well as the magazines. So to an advertiser Pyramid is a complete media company,which can give a huge amount of eyeball mileage across different segmental platforms," says Saminathan.
Dimples Cine Advertising would continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.
Keynote Corporate Services was the advisor to Pyramid Saimira for this transaction.
As reported earlier by Indiantelevision.com, Pyramid Saimira Productions Ltd(PSPL), a subsidiary company for film and TV production business, is planning to float an initialpublic offering(IPO) to raise Rs 1.5 billion.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary - Pyramid Saimira Entertainment America Inc.
Pyramid is also planning to float a subsidiary company in London to target the European market. "We may look at acquiring a company in the range of $100 million. For the US and Europe operations, we are going to reach out to the Asian diaspora. In the South East Asian region, on the other hand, we are setting up native theatre chains," says Saminathan.
http://www.indiantelevision.com/aac/y2k7/aac150.php
televisionpoint.com
Pyramid Saimira buys Dimples Cine Advertising
Chennai based multiplex chain Pyramid Saimira Theatre has acquired 51% stake in Dimples Cine Advertising and Dimples Cine Activations for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.P S Saminathan, Managing Director, Pyramid Saimira said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc.""Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market." adds Saminathan.Pyramid Saimira will roll out a business plan for Dimples Cine Advertising & Dimples Cine Activations, through which Dimples will have access to 4000 digital screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Saminathan.Dimples specialises in the exhibition of ad films and slides in cinemas and multiplexes across the nation and is the dominant player in this space and has a market share of close to 40 per cent. Dimples Cine Advertising was founded by Nari Karamchandani in 1992. Its takeover will help PSTL in getting additional revenues through in-cinema advertising as well as integrate its operations. The multiplex phenomenon is making in-cinema, in-multiplex advertising an attractive activity. As of June 2007, PSTL had 29 multiplexes and 325 screens under its control and aims to have a total of 2,000 screens by 2011.
http://www.televisionpoint.com/news2007/newsfullstory.php?id=1196256175
indiainfoline.com
Pyramid Saimira acquires stake in Dimple Chie
Dimple Cine Advertising has an all-India presence and is a one-stop cinema solution provider for both on-screen and off-screen advertising
Pyramid Saimira Theatre Ltd. said on Wednesday that its Board has approved the acquisition of a 51% stake, for cash, in Dimple Chie Advertising Pvt. Ltd., Mumbai.
Dimple Cine Advertising has an all-India presence and is a one-stop cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.
Speaking about the acquisition, Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising Pvt. Ltd. and Dimples Cine Activations, said, "It gives us great pleasure to be allied with the Pyramid Saimira Group, which is by far, the fastest growing entertainment company in the country today .The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration coupled with growing digitalization of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens.
Pyramid Saimira Group currently has access to 703 screens globally. Dimples Cine has more than 200 screen's fights for advertisements. With this, any advertiser will have access to approximately 1000 screens as of now across India, which is an unparalled reach. Dimples Cine is one of the biggest cinema advertisement companies with end to end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost effective advertising solutions in all key markets in India" he said.
Speaking about the acquisition, P S Saminathan, Managing Director, of the Company said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc.
Company is targeting revenue of around Rs15mn from advertising. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market. As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Saminathan.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston. Keynote Corporate Services Ltd., Mumbai, was the advisor to Pyramid Saimira on this transaction.
http://www.indiainfoline.com/news/innernews.asp?storyId=52429&lmn=1
Ad-Genie.com
Pyramid Saimira close to buy Dimples Cine Advertising
Chennai based multiplex chain Pyramid Saimira Theater Ltd (PSTL) is close to buy Dimples Cine Advertising for an undisclosed amount in an attempt to add a revenue stream to its business.Pyramid is in the business of converting movie halls into digital theatres and also has a tie-up with CD-maker Moser Baer to seel VCDs and DVDs at the theatres it runs. Moser Baer, building on its large-scale blank CD manufacture, has bought rights for thousands of movies to sell CDs with value-added content. Dimples specialises in the exhibition of ad films and slides in cinemas and multiplexes across the nation and is the dominant player in this space and has a market share of close to 40 per cent. Dimples Cine Advertising was founded by Nari Karamchandani in 1992. Its takeover may help PSTL in getting additional revenues through in-cinema advertising as well as integrate its operations. The multiplex phenomenon is making in-cinema, in-multiplex advertising an attractive activity. As of June 2007, PSTL had 29 multiplexes and 325 screens under its control and aims to have a total of 2,000 screens by 2011. PSTL recently raised $90 million (Rs 369 crore) through Foreign Currency Convertible Bonds (FCCBs) in the international market to fund its overseas acquisition plans. The company's net sales were Rs 122.7 crore in the AprilJune first quarter, up from Rs 67.6 crore in the previous quarter.
http://www.ad-genie.com/WhatsNew/pyramid-saimira-close-to-buy-dimples-cine-advertising-televisionpointcom.html
Moneycontrol.com
Pyramid Saimira acquires 51% stake in Dimple Cine Media
Pyramid Saimira has acquired a 51% stake in Dimple Cine Media which is India’s largest cinema advertising company. PS Saminathan, MD, Pyramid Saimira Theatre said this acquision will give them entry into the northern part of India. According to him, with this acquisition, Pyramid is now a complete media company. Dimples Cine will have a Rs 35-40 crore topline in FY08.
Excerpts of CNBC-TV18’s exclusive interview with PS Saminathan:
Q: Is it true that you are acquiring Dimples Cine Advertising?
A: That’s right, we have acquired 51% of Dimples Cine Advertisement, which is the largest cine advertisement companies of India.
Q: For how much money?
A: It is confidential and I cannot comment upon that. The company’s valuation is upwards of Rs 100 crore.
Q: What does Dimples bring in by way of revenues and profits to Pyramid Saimira?
A: Dimples Cine is the oldest firm, which does the in film media ads and lobby ads in the theatre. They have more than 250 theaters in the northern part of India, so this acquisition brings a cross country platform for us where if we had around 700 screens, you have 1000 screens where you can create an advertisement space in film ads as well as the movie ads. This also brings a huge ability for us to cross on the platform because we have theaters, films, TV news media as well as the magazines.
So to an advertiser Pyramid is a complete media company, which can give a huge amount of eyeball mileage across different segmental platforms. So Dimples brings that expertise, entry into the northern part of India where we do not have much presence as of now.
Our portfolio now covers, which entails talking to an advertisers, from corner to corner we cover around 100 screens. So we will be able to deliver to an advertiser a multiple presence.
Q: What kind of revenues has it had though, just so we understand this 100 crore valuation?
A: This year it will have Rs 35 to 40 crore of topline for ’07-’08. http://www.moneycontrol.com/india/news/business/pyramid-saimira-acquires-51-stakedimple-cine-media/12/29/314967
Sify business.com
Pyramid Saimira buys 51% in Dimple Cine
Mumbai: Theatre chain operator Pyramid Saimira Theatre Ltd said on Wednesday it acquired 51 per cent stake in Dimple Cine Advertising Pvt Ltd.
http://sify.com/finance/fullstory.php?id=14567749
equitybulls.com
Pyramid Saimira acquires Dimples Cine Activations
Pyramid Saimira Theatre Ltd on November 28, 2007, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations. As per the details of the acquisition, Pyramid Saimira Group has acquired 51% stake in the Company, for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.Speaking about the acquisition, Mr. P S Saminathan, Managing Director, of the Company said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market."As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Mr. Saminathan.Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
http://www.equitybulls.com/admin/news2006/news_det.asp?id=21884
Pyramid saimira has given its best shot once again by having Cines Advertsing on board for implementing future advertising related projects.,this acquisition is going to create a very big pardigm shift and bring about a remarkable change in the media as a whole-
Pyramid Saimira Press Coverage’s
The Economic Times
Pyramid Saimira buys 51% in Dimples Cine
MUMBAI: Pyramid Saimira, the entertainment company, has acquired 51% in the Mumbai-based Dimples Cine Advertising & Dimples Cine Activations for an undisclosed sum. Dimples Cine will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira group. Kamal Karamchandani, joint managing editor, Dimples Cine Advertising & Dimples Cine Activations, said: “The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration, coupled with growing digitalisation of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens. The Pyramid Saimira group now has access to 703 screens globally. Dimples Cine has more than 200 screens rights for advertisements. With this, any advertiser will have access to approximately 1,000 screens as of now across India, which is an unparalleled reach. “Dimples Cine is one of the biggest cinema advertisement companies with end-to-end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost-effective advertising solutions in all key markets of India,” he added. PS Saminathan, MD, Pyramid Saimira Theatre, said: “As the content industry is becoming more atomised and pull-oriented, the challenges for an advertiser to be visible on all the media vehicles assume greater importance with the proliferation of television channels and other exposure outlets such as Internet and cinema advertising companies with end-to-end expertise. Pyramid with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theatres across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. Pyramid will become a one-stop entertainment super market.” Pyramid Saimira plans to roll out close to 4,000 digital screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India.” said Mr Saminathan.
http://economictimes.indiatimes.com/News/News_By_Industry/Media__Entertainment_/Pyramid_Saimira_buys_51_in_Dimples_Cine/articleshow/2580018.cms
Buisiness Standard
Pyramid Saimira buys 51% in Dimple Cine
Pyramid Saimira has acquired 51% stake in the Mumbai-based advertising firm, Dimple Cine. Dimple Cine is having presence all over India and is a one-stock cinema solution provider for both on-screen and off-screen. Share price of Pyramid Saimira slipped by 1.78% and was trading at Rs 359 on the Bombay Stock Exchange at 1050 hrs.http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=30601
The Hindu Business Line
Pyramid Saimira acquires cine advertising co
CHENNAI: Pyramid Saimira Theatre Ltd on November 28 announced the strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt Ltd and Dimples Cine Activations.
The Pyramid Saimira Group has acquired 51 per cent stake in the company for an undisclosed sum.
Mr P.S. Saminathan, Managing Director, said: "We are extremely happy to announce the acquisition of Dimples Cine Advertising."
Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations, through which Dimples will have access to 4,000 digitally targetable screens by 2010.
"Through this acquisition, we aim to be a major media and advertisement vehicle in India," said Mr Saminathan. - Our Bureau
http://www.thehindubusinessline.com/blnus/02281425.htm
Livemint.com
Pyramid Saimira acquires ad firm Dimples Cine
Dimples Cine Advertising is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns
Mumbai: Entertainment firm Pyramid Saimira Theatre on 28 November 2007 said it has acquired majority stake (51%) in city-based ad agency Dimples Cine Advertising in an all-cash deal for an undisclosed amount.
“We are extremely happy to announce this strategic acquisition of Dimples Cine and welcome employees of Dimples into the Pyramid Saimira family. Through this acquisition, we aim to be a major media and advertisement vehicle in India,” Pyramid Saimira managing director P S Saminathan said.
Dimples Cine Advertising has an all-India presence and is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.
Dimples Cine Advertising would continue to remain headquartered in the city, while becoming a part of the Pyramid Saimira Group universe.
“Pyramid Saimira, with its presence in all streams of entertainment business in India, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella.
Pursuant to this acquisition, Dimples would have access to 4,000 digitally targetable screens by 2010,” Saminathan added.
The board of directors at its meeting on 10 November 2007 approved the acquisition of Dimples Cine, Pyramid Saimira said in a filing to the Bombay Stock Exchange.
Keynote Corporate Services was the advisor to Pyramid Saimira for this transaction.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainment America Inc.
Shares of Pyramid Saimira were trading at Rs357.70, down 2.15%, on the BSE in the afternoon trade.
http://www.livemint.com/2007/11/28152120/Pyramid-Saimira-acquires-ad-fi.html
Hindu.com
Pyramid Saimira buys Dimples Cine
MUMBAI: Pyramid Saimira Theatre on Wednesday said it had acquired a majority stake of 51 per cent in ad agency Dimples Cine Advertising in an all-cash deal for an undisclosed amount.
http://www.hindu.com/2007/11/29/stories/2007112956931700.htm
Agencyfaqs.com
Pyramid Saimira acquires 51%stake in Dimples cine Advertising
Pyramid Saimira, a South based multinational entertainment company, has announced its strategic acquisition of Mumbai based Dimples Cine Advertising and Dimples Cine Activations. As per the details of the acquisition, the Pyramid Saimira Group has acquired a 51 per cent stake in the company for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe. Kamal Karamchandani, joint managing director, Dimples Cine Advertising and Dimples Cine Activations, says, “We are glad to be associated with one of the fastest growing entertainment companies. Cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration coupled with the growing digitalisation of theatres.”
Pyramid Saimira has more than 44 multiplexes – 703 screens – across India, Malaysia, Singapore and North America. By 2010, it plans to have access to 4,000 digitally targetable Pyramid and non-Pyramid screens. Dimples will have access to all Pyramid properties under the agreement. PS Saminathan, managing director, Pyramid Saimira, says, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family.” Though a 51 per cent stake has been acquired, Dimple Cine Advertising will continue to expand independently as a non-Pyramid Saimira entity. The group intends to get into the digital and OOH space, too, now that they’ve acquired a major stake in Dimple Cine Advertising. “As the target is within the confines of a theatre and cannot switch channels, the measurement is absolute,” says Saminathan. The total ticket sales, he says, is a direct ratio to the number of eyeballs and footfalls. This serves as a good measurement technique. As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations. “As the content industry is becoming more atomised and pull oriented, the challenges for an advertiser to be visible on all media vehicles assumes greater importance with the proliferation of television channels and other exposure outlets such as Internet and cinema advertising,” explains Saminathan. Recently, Pyramid Saimira acquired the Texas based FunAsiA through its subsidiary, Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston. The Pyramid Saimira Group operates in more than four countries. It is present in film exhibition, film production, television content production, film distribution, advertisement, media, food and beverages etc. It has five companies: Pyramid Saimira Productions; Pyramid Saimira Theatre Chain, Malaysia; Pyramid Saimira Entertainment, Singapore; Pyramid Saimira Entertainment America, Inc. and Saimira Realty Private. For the record, Dimples Cine Advertising is a total cinema solution company offering services for both on-screen advertising and off-screen advertising. It has a pan India presence, having branches in 16 cities in India.
http://www.agencyfaqs.com/cgi-bin/re.html?u=http://www.agencyfaqs.com/perl/news/index.html?sid=19801
Myiris.com
Pyramid Saimira to buy 51% stake in Dimple Chie
Chennai-based multiplex chain operator Pyramid Saimira (Q.N.C.F)* Theatre` board approved the acquisition of 51% stake in Mumbai-based Dimple Chie Advertising for cash.
The company did not disclose the deal size.
Dimple Cine Advertising is having all-India presence and is a one-stock cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.Keynote Corporate Services acted as the advisor to the company on this transaction.
Shares of Pyramid Saimira declined Rs 3.65, or 1%, to trade at Rs 361.9. The total volume of shares traded was 173,701 at the BSE. (11.01 a.m, Wednesday).
http://www.myiris.com/newsCentre/newsPopup.php?fileR=20071128111001130&dir=2007/11/28&secID=livenews
Yahoo.com
Pyramid Saimira buys 51 pct in Dimple Cine
MUMBAI, Nov 28 - Theatre chain operator Pyramid Saimira Theatre Ltd said on Wednesday it acquired 51 percent stake in Dimple Cine Advertising Pvt Ltd.
http://sg.news.yahoo.com/rtrs/20071128/tbs-dimple-pyramid-acquisition-7318940.html
Exchange4media.com
Pyramid Saimira acquires 51 per cent stake in Dimples Cine Advertising
Pyramid Saimira Theatres Ltd (PSTL), a multinational entertainment company, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. PSTL has acquired 51 per cent stake in the company, for an undisclosed sum. Dimples Cine Advertising will continue to be headquartered in Mumbai.
Commenting on the acquisition, Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising, said, “It gives us great pleasure to be allied with Pyramid Saimira, which is by far the fastest growing entertainment company in the country today. The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies, coupled with growing digitisation of theatres with ability to broadcast, as well as monitor the advertisements exhibited in the screens.”
PSTL currently has access to 703 screens globally, while Dimples Cine Advertising has advertising rights for more than 200 screens. Karamchandani added that this acquisition meant that any advertiser would have access to approximately 1,000 screens now across India, which was an unparalleled reach. “Dimples Cine Advertising is one of the biggest cinema advertisement companies with end-to-end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost effective advertising solutions in all key markets in India,” he said.
PS Saminathan, Managing Director, PSTL, said, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising, and welcome the employees of Dimples Cine into the Pyramid Saimira family. As the content industry is becoming more atomised and pull-oriented, the challenges for an advertiser to be visible on all the media vehicles assumes greater importance with the proliferation of television channels and other exposure outlets such as Internet, cinema advertising, etc. With its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theatres across the country, Pyramid Saimira is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one-stop entertainment super market.”
As per details of the acquisition, PSTL will roll out a massive business plan for Dimples Cine Advertising, through which the latter will have access to a target of 4,000 digital screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India,” added Saminathan.
Keynote Capital Ltd was the advisor to PSTL for this acquisition. Recently, PSTL had acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainment America, Inc. PSTL also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
Pyramid Saimira Group is an Indian multinational entertainment company that operates in over four countries. It is present in film exhibition, film production, TV content production, film distribution, advertisement, media, food and beverages, etc. It has over five companies namely, Pyramid Saimira Productions Limited (PSTL), Pyramid Saimira Theatre Chain Malaysia Sdn Bhd; Pyramid Saimira Entertainment Limited, Singapore; Pyramid Saimira Entertainment America, Inc. and Saimira Realty Pvt. Ltd.
http://www.exchange4media.com/OutOfHome/news.asp?section_id=26&news_id=28765&tag=23672&pict=7
The Telegraph Pyramid Saimira buys ad firm
Mumbai, Nov. 28: Entertainment firm Pyramid Saimira Theatre Ltd has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations for an undisclosed sum.
Dimples Cine Advertising will continue to have its headquarters in Mumbai.
Recently, Pyramid Saimira acquired Texas-based FunAsia through its subsidiary Pyramid Saimira Entertainment America. Pyramid Saimira also bought an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
Pyramid Saimira managing director P. S. Saminathan said, “The challenges for an advertiser to be visible on all media vehicles assume greater importance with the proliferation of television channels and other forms such as internet and cinema advertising.”
“Pyramid Saimira, with its strong presence in all streams of entertainment business in India, is in a position to provide almost all the requirements of an advertiser or an agency under one umbrella. In short, Pyramid Saimira will become a one-stop entertainment super market,” Saminathan added.
The board of directors at its meeting on November 10 approved the acquisition of Dimples Cine, Pyramid Saimira said in a filing to the Bombay Stock Exchange.
Pyramid Saimira will roll out a business plan for Dimples Cine Advertising Pvt Ltd and Dimples Cine Activations. After the acquisition, Dimples Cine will have an access to 4,000 digitally targetable screens by 2010.
According to reports, Pyramid Saimira Entertainment Ltd, a Singapore-based subsidiary of Pyramid Saimira Theatre Ltd, plans to raise $75 million through private equity investors.
Another subsidiary Pyramid Saimira Productions Ltd, engaged in film and television production, plans to float an initial public offering to raise Rs 150 crore.
Pyramid Saimira Productions will dilute 10-12 per cent equity through the public float. The proceeds will be used to expand its film and TV production businesses.
http://www.telegraphindia.com/1071129/asp/business/story_8605111.asp
Congoo.com
Pyramid Saimira buys ad firm
Mumbai, Nov. 28: Entertainment firm Pyramid Saimira Theatre Ltd has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations for an undisclosed sum. Dimples Cine Advertising will continue to have its headquarters in Mumbai. Recently, Pyramid Saimira ac...
http://www.congoo.com/news/2007November28/Pyramid-Saimira-acquires-firm-Dimples
Indiantelevision.com
Pyramid Saimira buys 51% in Dimples Cine Advertising; plans UK subsidiary
MUMBAI: Pyramid Saimira Group has acquired a 51 per cent stake in Mumbai-based Dimples Cine Advertising and Dimples Cine Activations for an undisclosed amount.
Dimples Cine promoter Kamal Karamchandani will further dilute 23 per cent through private placement. "We will retain 26 per cent and dilute the rest to other investors. The valuation is confidential at this stage," says Karamchandani.
Pyramid Saimira expects the topline to benefit by Rs 1.5 billion in FY'09 due to the acquisition of the cinema Advertising company. "Dimples Cine will automatically reach out to 1000 theatres and have geographical and customer diversity. Besides, they will also be targeting business from non Pyramid theatres. We are aiming at a topline rise of Rs 1.5 billion from this in FY'09, says Pyramid Saimira Theatre MD PS Saminathan.
Dimples Cine, which offers services for both on-screen as well as off-screen advertising, has rights to 250 screens for advertisements. Pyramid currently has 703 screens.
The target is to have access to 4,000 screens by 2010, Saminathan said. Pyramid plans to have grown to 2000 screens by then. "We plan to ramp up Dimples' access to 4000 theatres. We will have signage as well as out-of-home content. The advantage is that we will have content, distribution and marketing under one umbrella. This also brings a huge ability for us to cross promote on the platform because we have theaters, films, TV news media as well as the magazines. So to an advertiser Pyramid is a complete media company,which can give a huge amount of eyeball mileage across different segmental platforms," says Saminathan.
Dimples Cine Advertising would continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.
Keynote Corporate Services was the advisor to Pyramid Saimira for this transaction.
As reported earlier by Indiantelevision.com, Pyramid Saimira Productions Ltd(PSPL), a subsidiary company for film and TV production business, is planning to float an initialpublic offering(IPO) to raise Rs 1.5 billion.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary - Pyramid Saimira Entertainment America Inc.
Pyramid is also planning to float a subsidiary company in London to target the European market. "We may look at acquiring a company in the range of $100 million. For the US and Europe operations, we are going to reach out to the Asian diaspora. In the South East Asian region, on the other hand, we are setting up native theatre chains," says Saminathan.
http://www.indiantelevision.com/aac/y2k7/aac150.php
televisionpoint.com
Pyramid Saimira buys Dimples Cine Advertising
Chennai based multiplex chain Pyramid Saimira Theatre has acquired 51% stake in Dimples Cine Advertising and Dimples Cine Activations for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.P S Saminathan, Managing Director, Pyramid Saimira said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc.""Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market." adds Saminathan.Pyramid Saimira will roll out a business plan for Dimples Cine Advertising & Dimples Cine Activations, through which Dimples will have access to 4000 digital screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Saminathan.Dimples specialises in the exhibition of ad films and slides in cinemas and multiplexes across the nation and is the dominant player in this space and has a market share of close to 40 per cent. Dimples Cine Advertising was founded by Nari Karamchandani in 1992. Its takeover will help PSTL in getting additional revenues through in-cinema advertising as well as integrate its operations. The multiplex phenomenon is making in-cinema, in-multiplex advertising an attractive activity. As of June 2007, PSTL had 29 multiplexes and 325 screens under its control and aims to have a total of 2,000 screens by 2011.
http://www.televisionpoint.com/news2007/newsfullstory.php?id=1196256175
indiainfoline.com
Pyramid Saimira acquires stake in Dimple Chie
Dimple Cine Advertising has an all-India presence and is a one-stop cinema solution provider for both on-screen and off-screen advertising
Pyramid Saimira Theatre Ltd. said on Wednesday that its Board has approved the acquisition of a 51% stake, for cash, in Dimple Chie Advertising Pvt. Ltd., Mumbai.
Dimple Cine Advertising has an all-India presence and is a one-stop cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.
Speaking about the acquisition, Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising Pvt. Ltd. and Dimples Cine Activations, said, "It gives us great pleasure to be allied with the Pyramid Saimira Group, which is by far, the fastest growing entertainment company in the country today .The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration coupled with growing digitalization of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens.
Pyramid Saimira Group currently has access to 703 screens globally. Dimples Cine has more than 200 screen's fights for advertisements. With this, any advertiser will have access to approximately 1000 screens as of now across India, which is an unparalled reach. Dimples Cine is one of the biggest cinema advertisement companies with end to end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost effective advertising solutions in all key markets in India" he said.
Speaking about the acquisition, P S Saminathan, Managing Director, of the Company said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc.
Company is targeting revenue of around Rs15mn from advertising. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market. As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Saminathan.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston. Keynote Corporate Services Ltd., Mumbai, was the advisor to Pyramid Saimira on this transaction.
http://www.indiainfoline.com/news/innernews.asp?storyId=52429&lmn=1
Ad-Genie.com
Pyramid Saimira close to buy Dimples Cine Advertising
Chennai based multiplex chain Pyramid Saimira Theater Ltd (PSTL) is close to buy Dimples Cine Advertising for an undisclosed amount in an attempt to add a revenue stream to its business.Pyramid is in the business of converting movie halls into digital theatres and also has a tie-up with CD-maker Moser Baer to seel VCDs and DVDs at the theatres it runs. Moser Baer, building on its large-scale blank CD manufacture, has bought rights for thousands of movies to sell CDs with value-added content. Dimples specialises in the exhibition of ad films and slides in cinemas and multiplexes across the nation and is the dominant player in this space and has a market share of close to 40 per cent. Dimples Cine Advertising was founded by Nari Karamchandani in 1992. Its takeover may help PSTL in getting additional revenues through in-cinema advertising as well as integrate its operations. The multiplex phenomenon is making in-cinema, in-multiplex advertising an attractive activity. As of June 2007, PSTL had 29 multiplexes and 325 screens under its control and aims to have a total of 2,000 screens by 2011. PSTL recently raised $90 million (Rs 369 crore) through Foreign Currency Convertible Bonds (FCCBs) in the international market to fund its overseas acquisition plans. The company's net sales were Rs 122.7 crore in the AprilJune first quarter, up from Rs 67.6 crore in the previous quarter.
http://www.ad-genie.com/WhatsNew/pyramid-saimira-close-to-buy-dimples-cine-advertising-televisionpointcom.html
Moneycontrol.com
Pyramid Saimira acquires 51% stake in Dimple Cine Media
Pyramid Saimira has acquired a 51% stake in Dimple Cine Media which is India’s largest cinema advertising company. PS Saminathan, MD, Pyramid Saimira Theatre said this acquision will give them entry into the northern part of India. According to him, with this acquisition, Pyramid is now a complete media company. Dimples Cine will have a Rs 35-40 crore topline in FY08.
Excerpts of CNBC-TV18’s exclusive interview with PS Saminathan:
Q: Is it true that you are acquiring Dimples Cine Advertising?
A: That’s right, we have acquired 51% of Dimples Cine Advertisement, which is the largest cine advertisement companies of India.
Q: For how much money?
A: It is confidential and I cannot comment upon that. The company’s valuation is upwards of Rs 100 crore.
Q: What does Dimples bring in by way of revenues and profits to Pyramid Saimira?
A: Dimples Cine is the oldest firm, which does the in film media ads and lobby ads in the theatre. They have more than 250 theaters in the northern part of India, so this acquisition brings a cross country platform for us where if we had around 700 screens, you have 1000 screens where you can create an advertisement space in film ads as well as the movie ads. This also brings a huge ability for us to cross on the platform because we have theaters, films, TV news media as well as the magazines.
So to an advertiser Pyramid is a complete media company, which can give a huge amount of eyeball mileage across different segmental platforms. So Dimples brings that expertise, entry into the northern part of India where we do not have much presence as of now.
Our portfolio now covers, which entails talking to an advertisers, from corner to corner we cover around 100 screens. So we will be able to deliver to an advertiser a multiple presence.
Q: What kind of revenues has it had though, just so we understand this 100 crore valuation?
A: This year it will have Rs 35 to 40 crore of topline for ’07-’08. http://www.moneycontrol.com/india/news/business/pyramid-saimira-acquires-51-stakedimple-cine-media/12/29/314967
Sify business.com
Pyramid Saimira buys 51% in Dimple Cine
Mumbai: Theatre chain operator Pyramid Saimira Theatre Ltd said on Wednesday it acquired 51 per cent stake in Dimple Cine Advertising Pvt Ltd.
http://sify.com/finance/fullstory.php?id=14567749
equitybulls.com
Pyramid Saimira acquires Dimples Cine Activations
Pyramid Saimira Theatre Ltd on November 28, 2007, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations. As per the details of the acquisition, Pyramid Saimira Group has acquired 51% stake in the Company, for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.Speaking about the acquisition, Mr. P S Saminathan, Managing Director, of the Company said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market."As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Mr. Saminathan.Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
http://www.equitybulls.com/admin/news2006/news_det.asp?id=21884
Collection by Srivenkat Bulemoni
Pyramid Saimira plans IPO for content arm ...
Inimitable Growth continues…
Pyramid Saimira, a prominent pioneer in the entertainment arena has struck again with a big bang by embarking on western region. By acquiring dimples cine advertising it is building up a strong threshold in that region. Since bollywood is reckoning in terms of its growth in entertainment segment,to cash in on this growth trajectory a strategic alliance with dimples cine advertising is a preemptive approach.
DNA, one of the leading paper had come up with the report of Pyramid Saimira’s aggressive IPO plans to be executed in the month of December and had commended the initiative taken by Pyramid Saimira to strengthen its productions line, the report highly appreciated the efforts taken by Pyramid Saimira to synergies the TV content operation as well and take it to unimaginable levels at the earliest.
Pyramid Saimira plans IPO for content arm ...
(Nirmal John ,, Thursday, November 29, 2007 03:38 IST)
MUMBAI: Chennai-based Pyramid Saimira group is planning an IPO of its content production subsidiary Pyramid Saimira Productions, which is expected to raise around Rs 750 crore through this. The proceeds will then be invested to increase production of television content as well as for feature film production. P S Saminathan, MD, Pyramid Samira Theatre, said: “The papers for the IPO are being put together and we should be taking the next step in December.”
He added the company would be producing one multi-lingual film every year with a budget of Rs 150 crore. This film would then be distributed across various parts of the world in different languages. Announcement on the first such film is expected in January.
In terms of television content, the company, which currently produces around 2.5 hours of content daily will increase it to 24 hours of content eventually.
In a bid to expand its activities into Europe, the company is also planning to acquire a UK-based exhibitor through the leveraged buyout route. Saminathan indicated that talks were on for the transaction, which would possibly cost the company in the region of $100 million.
Pyramid is currently present in Malaysia, Singapore and the US besides India. It also has plans for a DVD rental chain, catering primarily to the Indian diaspora.
http://www.dnaindia.com/report.asp?newsid=1136111
Pyramid Saimira, a prominent pioneer in the entertainment arena has struck again with a big bang by embarking on western region. By acquiring dimples cine advertising it is building up a strong threshold in that region. Since bollywood is reckoning in terms of its growth in entertainment segment,to cash in on this growth trajectory a strategic alliance with dimples cine advertising is a preemptive approach.
DNA, one of the leading paper had come up with the report of Pyramid Saimira’s aggressive IPO plans to be executed in the month of December and had commended the initiative taken by Pyramid Saimira to strengthen its productions line, the report highly appreciated the efforts taken by Pyramid Saimira to synergies the TV content operation as well and take it to unimaginable levels at the earliest.
Pyramid Saimira plans IPO for content arm ...
(Nirmal John ,, Thursday, November 29, 2007 03:38 IST)
MUMBAI: Chennai-based Pyramid Saimira group is planning an IPO of its content production subsidiary Pyramid Saimira Productions, which is expected to raise around Rs 750 crore through this. The proceeds will then be invested to increase production of television content as well as for feature film production. P S Saminathan, MD, Pyramid Samira Theatre, said: “The papers for the IPO are being put together and we should be taking the next step in December.”
He added the company would be producing one multi-lingual film every year with a budget of Rs 150 crore. This film would then be distributed across various parts of the world in different languages. Announcement on the first such film is expected in January.
In terms of television content, the company, which currently produces around 2.5 hours of content daily will increase it to 24 hours of content eventually.
In a bid to expand its activities into Europe, the company is also planning to acquire a UK-based exhibitor through the leveraged buyout route. Saminathan indicated that talks were on for the transaction, which would possibly cost the company in the region of $100 million.
Pyramid is currently present in Malaysia, Singapore and the US besides India. It also has plans for a DVD rental chain, catering primarily to the Indian diaspora.
http://www.dnaindia.com/report.asp?newsid=1136111
Wednesday, November 28, 2007
Pyramid Saimira acquires Dimples Cine Advertising
Pyramid Saimira Impresses again…
Pyramid saimira has added another feather to its cap by acquiring dimples cine advertising, the news coverage of this acquisition appeared on the elitist of newspaper of India( The Economic Times). They have widely appreciated this acquisition. This report from them clearly indicates that pyramid saimira is emerging as a robust player in the entertainment and media industry and states that pyramid have positioned itself as a very big strategic player.
The Economic Times Says as-
Pyramid Saimira acquires Dimples Cine Advertising
Pyramid Saimira acquires Dimples Cine Advertising
28 Nov, 2007, 1309 hrs IST, INDIATIMES NEWS NETWORK
MUMBAI: Pyramid Saimira Theatre has announced the strategic acquisition of Mumbai-based Dimples Cine Advertising and Dimples Cine Activations. Pyramid Saimira group has acquired 51 per cent stake for an undisclosed sum. The firm will continue to remain headquartered in Mumbai. "Through this acquisition, we aim to be a major media and advertisement vehicle in India," said PS Saminathan, managing director of Pyramid Saimira. Pyramid Saimira will roll-out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations, through which Dimples will have access to 4,000 digitally targetable screens by 2010. Recently, Pyramid Saimira acquired Texas-based FunAsiA through subsidiary Pyramid Saimira Entertainment America. It also acquired an existing theatre and radio drive-time hours in Chicago and radiotime in Houston. At 12:36 pm, Pyramid Saimira Theatre shares were down 1.79 per cent at Rs 359 on BSE.
MUMBAI: Pyramid Saimira Theatre has announced the strategic acquisition of Mumbai-based Dimples Cine Advertising and Dimples Cine Activations. Pyramid Saimira group has acquired 51 per cent stake for an undisclosed sum. The firm will continue to remain headquartered in Mumbai. "Through this acquisition, we aim to be a major media and advertisement vehicle in India," said PS Saminathan, managing director of Pyramid Saimira. Pyramid Saimira will roll-out a massive business plan for Dimples Cine Advertising and Dimples Cine Activations, through which Dimples will have access to 4,000 digitally targetable screens by 2010. Recently, Pyramid Saimira acquired Texas-based FunAsiA through subsidiary Pyramid Saimira Entertainment America. It also acquired an existing theatre and radio drive-time hours in Chicago and radiotime in Houston. At 12:36 pm, Pyramid Saimira Theatre shares were down 1.79 per cent at Rs 359 on BSE.
Tuesday, November 27, 2007
Pyramid Saimira has purchased the Indian theatrical rights of Billa-2007
Billa 2007 is one the greatest remakes of all times. Ajith Kumar will play the role of Rajnikanth. The Director of the film is Vishnuvardhan and the Producer is Suresh Balaji. In the original Billa, Super star Rajnikanth played the lead role in the movie. In Billa 2007, Ajith Kumar replaces Rajnikanth in the roles of Billa and Raja. Nayantara and Namitha are doing the female lead roles in the film. Nayantara will do the role enacted by Sripriya while Namitha will do the role of Praveena.
Music is composed by Yuvan Shankar Raja. Prabhu plays a prominent role in the movie while Prakash Raj dons Major Sundar Rajan’s role in the original film. Mumaith Khan, the new item girl of Kollywood will be doing an item number.
The film’s release is slated on 12th December 2007 and it is expected to set the box office on fire. For more details www.billathemovie.com.
Cast: Ajith Kumar, Nayantara, Namitha, Prabhu, Prakash Raj.
Director: Vishnuvardhan
Producer: L. Suresh
Distribution: Pyramid Saimira Theatre Ltd
Music Director: Yuvan Shankar Raja
Music is composed by Yuvan Shankar Raja. Prabhu plays a prominent role in the movie while Prakash Raj dons Major Sundar Rajan’s role in the original film. Mumaith Khan, the new item girl of Kollywood will be doing an item number.
The film’s release is slated on 12th December 2007 and it is expected to set the box office on fire. For more details www.billathemovie.com.
Cast: Ajith Kumar, Nayantara, Namitha, Prabhu, Prakash Raj.
Director: Vishnuvardhan
Producer: L. Suresh
Distribution: Pyramid Saimira Theatre Ltd
Music Director: Yuvan Shankar Raja
Friday, November 23, 2007
Pyramid Saimira's Halla Bol
Ashfaque (Ajay Devgan) is a small town boy aspiring to be a film star in the Hindi film industry. He joins a street theatre group run by a reformed dacoit Sidhu (Pankaj Kapur) who uses street theatre as a medium to bring about an awakening in the masses. Ashfaque struggles to give a creative vent to the actor in him in order to realize his dreams.
Ashfaque's determined struggle pays off and he gets a break in films. He gets a new screen name - Sameer Khan. With the passage of time, the roles start becoming better and he moves up the success ladder in a very short time. Soon, he becomes Sameer Khan the superstar - one who can enact any role with finesse, get under the skin of any and every character with ease and walk away with audience applause.
Sadly, amidst all adulation and applause, he slowly loses his own identity. He forgets his real self and imbibes all characteristics of the various roles essayed by him on screen. Corruption takes over his entire system, alienating him from all loved ones, including his wife Sneha (Vidya Balan).
A shocking incident at a party changes everything, rocking Sameer Khan's lifestyle. He gets caught between his human self on one side and his corrupted superstar image on the other.
Whether the conflict within him gives way to good sense and whether he is able to discard his corrupted image and emerge as a true life hero, becomes an integral part of this true life cinema.
Star Cast
Ajay Devgan...... Ashfaque
Vidya Balan...... Sneha
Pankaj Kapoor...... Sidhu
Kareena Kapoor...... as part of screen footage from the film Omkara
Ishteyak
Sridevi...... Special Appearance (as herself)
Boney Kapoor...... Special Appearance (as himself)
Jackie Shroff...... Special Appearance (as himself)
Ruby Bhatia
Pahlaj Nihalani...... Special Appearance (as himself)
Neeraj Vora...... Special Appearance (as himself)
Tusshar Kapoor...... Special Appearance (as himself)
Ranjit Kapoor...... Special Appearance (as himself)
Mukesh Tiwari
Lekh Tandon
Music Director
Himesh Reshammiya
Cinematography
S Natarajan Subramaniam
Choreography
Ganesh Acharya
Art
Nitish Roy
Editor
Steven Bernard
Screenplay
Rajkumar Santoshi
Sound
Rakesh Ranjan
Dialogue
Rajkumar Santoshi
Publicity Designs
Himanshu Nanda
Rahul Nanda
HR Enterprises
Story / Writer
Rajkumar Santoshi
Wednesday, November 21, 2007
Pyramid Saimira's subsidiary plans Rs 1.5 billion IPO for film & TV production biz
By Indiantelevision.com Team
(12 November 2007 7:30 pm)
MUMBAI: Pyramid Saimira Productions Ltd (PSPL), a subsidiary company of Pyramid Saimira Theatre Ltd, plans to float an initial public offering (IPO) to raise Rs 1.5 billion.
The company will dilute 10-12 per cent equity through the IPO and the funds will be used to expand the film and TV production businesses.
"We plan to raise Rs 1.5 billion," Pyramid Saimira managing director PS Saminathan tells Indiantelevision.com. "We expect to come out with the IPO by February-end."
PSPL aims to ramp up its movie production from 13 this fiscal to 50 in FY'09. The TV content production is also expected to increase significantly. "We are currently doing two hours of TV content for Tamil channels Raj TV and Kalaignar TV. We will be scaling our film as well as TV content. Our target is to produce content in nine different languages including Hindi," says Saminathan.
Already Pyramid has tied up with banks, an insurance company and a film completion bond firm to provide an annual corpus of Rs 3 billion for funding film producers.
Meanwhile, Pyramid Saimira Theatre Ltd (PSTL) has got the board nod to increase the authorised capital of the company from Rs 330 million to Rs 500 million.
The board has also approved the acquisition of a company engaged in the media space. "We can't disclose the name yet but it is in the theatre advertising space," says Saminathan.
PSTL recently bought out Texas-based FunAsia, becoming the first Indian theatre chain to enter into the US market. The acquisition was made through PSTL's US subsidiary Pyramid Saimira Entertainment America Inc.
(12 November 2007 7:30 pm)
MUMBAI: Pyramid Saimira Productions Ltd (PSPL), a subsidiary company of Pyramid Saimira Theatre Ltd, plans to float an initial public offering (IPO) to raise Rs 1.5 billion.
The company will dilute 10-12 per cent equity through the IPO and the funds will be used to expand the film and TV production businesses.
"We plan to raise Rs 1.5 billion," Pyramid Saimira managing director PS Saminathan tells Indiantelevision.com. "We expect to come out with the IPO by February-end."
PSPL aims to ramp up its movie production from 13 this fiscal to 50 in FY'09. The TV content production is also expected to increase significantly. "We are currently doing two hours of TV content for Tamil channels Raj TV and Kalaignar TV. We will be scaling our film as well as TV content. Our target is to produce content in nine different languages including Hindi," says Saminathan.
Already Pyramid has tied up with banks, an insurance company and a film completion bond firm to provide an annual corpus of Rs 3 billion for funding film producers.
Meanwhile, Pyramid Saimira Theatre Ltd (PSTL) has got the board nod to increase the authorised capital of the company from Rs 330 million to Rs 500 million.
The board has also approved the acquisition of a company engaged in the media space. "We can't disclose the name yet but it is in the theatre advertising space," says Saminathan.
PSTL recently bought out Texas-based FunAsia, becoming the first Indian theatre chain to enter into the US market. The acquisition was made through PSTL's US subsidiary Pyramid Saimira Entertainment America Inc.
Tuesday, November 20, 2007
‘We want to become a giant theatre chain globally’
We believe in taking risk. This is something we have communicated to all our stakeholders. We are not shy about it. We do leverage really high.
Mr P. S. Saminathan, Managing Director, Pyramid Saimira Theatres Ltd.
Interview by Shanthi Venkataraman, Business line
Pyramid Saimira Theatres Ltd (PSTL), which went public in late 2006, has almost overnight become a company that straddles multiple segments of the film world, from production to exhibition. It has done so by being unconventional from the sta rt, be it leasing old single-screen theatres to ramp up its screen presence or acquiring theatre chains overseas even as all other players remain focussed on domestic markets.
In an interview with Business Line, Mr P. S. Saminathan, Managing Director, PSTL, is unabashedly confident of the company’s prospects, although sceptics may still consider some of its targets ambitious, considering that PSTL is still in its early growth phase.
Excerpts from the interview:
Pyramid Saimira’s IPO in December 2006 raised funds for expansion and digitalisation of theatres across India. Now the company appears to have expanded far beyond film exhibition. What is your strategy?
Digitalisation was part of the agenda to agglomerate the theatre chain. Now, we have climbed up the value chain. We have become the largest exhibitor in India and we are possibly the third largest exhibitor in the world. We have almost eliminated the distribution segment and have become an exhibitor-cum-distributor. We have climbed up the value chain further by entering film production.
Secondly, we are also expanding laterally. We operate out of the US, Malaysia and Singapore and are expanding into other countries as well. There is a geographical as well as a value chain spread.
How is the company structured? Do all your businesses come under the PSTL fold?
PSTL is engaged in film exhibition and is the holding company of Pyramid Saimira Production (PSPL) and Pyramid Saimira Entertainment (PSEL).
PSPL produces films and TV content. Singapore-based PSEL is a content agglomeration unit. The model is akin to Eros International. Eros buys films and distributes it abroad. PSEL not only buys films and distributes them abroad but also buys Hollywood films and distributes them in the Asia-Pacific region.
PSEL is a 100 per cent subsidiary of PSTL. PSPL is majority-owned by PSTL and the balance is held by some individuals and venture capitalists.
Your move into production, distribution and other areas have taken place at a tremendously fast pace. What resources do you have to execute these projects?
Fortunately, we have been profitable from the beginning. We entered at a time when the industry was on an upswing. Second, we raised Rs 400 crore on our convertible bond issue. Third, each of our units is raising funds, both debt and equity, independently and no longer rely on the parent companyPSTL. Our Singapore-based unit PSEL has raised capital and debt and our production unit Pyramid Saimira Production is going public.
Now we have multiple entities. In Malaysia, we have Pyramid Saimira Malaysia. There we have a partner and we have raised some debt. We have an US-based company called Pyramid Saimira America. That will raise funds in the US for its expansion.
You straddle across production, distribution and exhibition and have set big targets across all three streams. Are you not spreading yourself too thin?
This company believes in taking risk. This is something we have communicated to all our stakeholders. We are not shy about it. We do leverage really high. In my view, the critical difference between this group and others is the speed with which we execute our projects.
If you look at any company that has grown quickly in the last ten years, it is because of the speed of execution. It is not because they were structurally sound. Most of the companies be it Google, Jump TV, Reliance, Mittal group….each of their moves were independently not justifiable. They had a high-risk element. L. N. Mittal took over sick companies and made them profitable.
Reliance’s execution speed is flawless. We also believe in that speed. We need to ramp up very fast. That is the core focus.
We have reached a stage where we have become big. We are actually doubling in size every three months.
Today we have more than 500,000 seats. We are spread across five countries. We have 703 screens. We produced close to 38 films this year and we think only Paramount Studios and Universal Studios would have beaten this number. We have distributed over 90-100 films. We have started TV serial production.
We will beat Balaji Telefilms in the next one or two months in terms of hours of programming. We have targeted eight channels. Our focus is to go to niche areas and control everything. We will also enter Hindi genre in the satellite television market.
To an extent, we are not communicating this pace of growth. But every film in India has to pass through our hands, either at the production stage or at the distribution stage. We are present everywhere, so, without us, no film can be released at the exhibition stage.
How are you backed in terms of management bandwidth?
PSTL is one company that believes not just in taking business risks but in taking risks on people as well. We have a concept called network management in Tamil Nadu. We have removed the top management in TN. The divisional management is given the powers of the top management. And the powers are quite extensive.
The Tamil Nadu division alone, on a year-on-year basis, will have a Rs 600 crore turnover. It spends Rs 400-500 crore. Everyday, it spends Rs 1.5-2 crore. Everyday, it adds a theatre. The growth necessitates some kind of innovation in management practices also.
What is your strategy of going international? Are not those markets already saturated with multiplexes?
Yes, but there is no focus on the Asian population. We have two goals. The first is to be a giant in Asia-Pacific. Here we do not focus on Indian films alone but on the respective region’s appetite. For instance, in Malaysia, we do not focus on Indian films but on Malay, Chinese, English, and so on. We want to become a giant theatre chain here, so that we can agglomerate Hollywood content here.
The second is to go abroad and focus on Indian films, and target Asian audiences in the western territory. There is no company that has, so far, focussed on the ground level. They have focussed on the middle level, that is, distribution. No one has built the required infrastructure.
We believe in ground level strength, and not on in trading alone. So we are building infrastructure so that we have a sustainable base.
What is the progress on the digitalisation front?
We have started digitalising. We have digitalised about 200-250 theatres. As a percentage of overall screens it is still low. We were not focussed on cost cutting. We are using digitalisation as an expansive mechanism. Digitalisation to me is like banks computerising their core banking operations. It is a technology solution that enables you to manage better. By 2009-10 most of the screens will be digitalised. Because by then we won’t be able to grow further. I cannot expand more than 1000-1200 screens in South India.
The focus will then shift to quality, digitalisation, improving network, and so on.
How does your margin profile differ from other multiplex players? Most of the names are focussed on the premium end.
Our ticket admission rates are lower and we have not focussed on improving infrastructure and raising the admission rate. Those improvements will happen only in 2009. We will still want to have low-margin high value on the box office. But that does not mean we will have low margins in foods and beverages. F&B is a very high margin business.
It gives you 100-250 per cent margin even without fleecing the public. You go to a theatre expecting coffee to be expensive, and popcorn that is available for Rs 5 outside to be Rs 10 inside. Your price expectations are higher. So if we sell it for Rs 7.50, it will be seen as cheap.
We want people to see our F&B as an independent business. We want more footfalls. Our operating margins will always be less than 20 per cent for our theatre business.
What would the typical occupancy rates be?
In the first quarter it was about 44 per cent, and in second quarter, around 34 per cent.
Is it because it has been a good year for South Indian films?
No, not really. Honestly, whether a film is good or bad does not make a difference to us. This Diwali, every Pyramid theatre had a new film. Nearby theatres did not. That is because we distribute all films. We have effectively denied content to competition.
Mr P. S. Saminathan, Managing Director, Pyramid Saimira Theatres Ltd.
Interview by Shanthi Venkataraman, Business line
Pyramid Saimira Theatres Ltd (PSTL), which went public in late 2006, has almost overnight become a company that straddles multiple segments of the film world, from production to exhibition. It has done so by being unconventional from the sta rt, be it leasing old single-screen theatres to ramp up its screen presence or acquiring theatre chains overseas even as all other players remain focussed on domestic markets.
In an interview with Business Line, Mr P. S. Saminathan, Managing Director, PSTL, is unabashedly confident of the company’s prospects, although sceptics may still consider some of its targets ambitious, considering that PSTL is still in its early growth phase.
Excerpts from the interview:
Pyramid Saimira’s IPO in December 2006 raised funds for expansion and digitalisation of theatres across India. Now the company appears to have expanded far beyond film exhibition. What is your strategy?
Digitalisation was part of the agenda to agglomerate the theatre chain. Now, we have climbed up the value chain. We have become the largest exhibitor in India and we are possibly the third largest exhibitor in the world. We have almost eliminated the distribution segment and have become an exhibitor-cum-distributor. We have climbed up the value chain further by entering film production.
Secondly, we are also expanding laterally. We operate out of the US, Malaysia and Singapore and are expanding into other countries as well. There is a geographical as well as a value chain spread.
How is the company structured? Do all your businesses come under the PSTL fold?
PSTL is engaged in film exhibition and is the holding company of Pyramid Saimira Production (PSPL) and Pyramid Saimira Entertainment (PSEL).
PSPL produces films and TV content. Singapore-based PSEL is a content agglomeration unit. The model is akin to Eros International. Eros buys films and distributes it abroad. PSEL not only buys films and distributes them abroad but also buys Hollywood films and distributes them in the Asia-Pacific region.
PSEL is a 100 per cent subsidiary of PSTL. PSPL is majority-owned by PSTL and the balance is held by some individuals and venture capitalists.
Your move into production, distribution and other areas have taken place at a tremendously fast pace. What resources do you have to execute these projects?
Fortunately, we have been profitable from the beginning. We entered at a time when the industry was on an upswing. Second, we raised Rs 400 crore on our convertible bond issue. Third, each of our units is raising funds, both debt and equity, independently and no longer rely on the parent companyPSTL. Our Singapore-based unit PSEL has raised capital and debt and our production unit Pyramid Saimira Production is going public.
Now we have multiple entities. In Malaysia, we have Pyramid Saimira Malaysia. There we have a partner and we have raised some debt. We have an US-based company called Pyramid Saimira America. That will raise funds in the US for its expansion.
You straddle across production, distribution and exhibition and have set big targets across all three streams. Are you not spreading yourself too thin?
This company believes in taking risk. This is something we have communicated to all our stakeholders. We are not shy about it. We do leverage really high. In my view, the critical difference between this group and others is the speed with which we execute our projects.
If you look at any company that has grown quickly in the last ten years, it is because of the speed of execution. It is not because they were structurally sound. Most of the companies be it Google, Jump TV, Reliance, Mittal group….each of their moves were independently not justifiable. They had a high-risk element. L. N. Mittal took over sick companies and made them profitable.
Reliance’s execution speed is flawless. We also believe in that speed. We need to ramp up very fast. That is the core focus.
We have reached a stage where we have become big. We are actually doubling in size every three months.
Today we have more than 500,000 seats. We are spread across five countries. We have 703 screens. We produced close to 38 films this year and we think only Paramount Studios and Universal Studios would have beaten this number. We have distributed over 90-100 films. We have started TV serial production.
We will beat Balaji Telefilms in the next one or two months in terms of hours of programming. We have targeted eight channels. Our focus is to go to niche areas and control everything. We will also enter Hindi genre in the satellite television market.
To an extent, we are not communicating this pace of growth. But every film in India has to pass through our hands, either at the production stage or at the distribution stage. We are present everywhere, so, without us, no film can be released at the exhibition stage.
How are you backed in terms of management bandwidth?
PSTL is one company that believes not just in taking business risks but in taking risks on people as well. We have a concept called network management in Tamil Nadu. We have removed the top management in TN. The divisional management is given the powers of the top management. And the powers are quite extensive.
The Tamil Nadu division alone, on a year-on-year basis, will have a Rs 600 crore turnover. It spends Rs 400-500 crore. Everyday, it spends Rs 1.5-2 crore. Everyday, it adds a theatre. The growth necessitates some kind of innovation in management practices also.
What is your strategy of going international? Are not those markets already saturated with multiplexes?
Yes, but there is no focus on the Asian population. We have two goals. The first is to be a giant in Asia-Pacific. Here we do not focus on Indian films alone but on the respective region’s appetite. For instance, in Malaysia, we do not focus on Indian films but on Malay, Chinese, English, and so on. We want to become a giant theatre chain here, so that we can agglomerate Hollywood content here.
The second is to go abroad and focus on Indian films, and target Asian audiences in the western territory. There is no company that has, so far, focussed on the ground level. They have focussed on the middle level, that is, distribution. No one has built the required infrastructure.
We believe in ground level strength, and not on in trading alone. So we are building infrastructure so that we have a sustainable base.
What is the progress on the digitalisation front?
We have started digitalising. We have digitalised about 200-250 theatres. As a percentage of overall screens it is still low. We were not focussed on cost cutting. We are using digitalisation as an expansive mechanism. Digitalisation to me is like banks computerising their core banking operations. It is a technology solution that enables you to manage better. By 2009-10 most of the screens will be digitalised. Because by then we won’t be able to grow further. I cannot expand more than 1000-1200 screens in South India.
The focus will then shift to quality, digitalisation, improving network, and so on.
How does your margin profile differ from other multiplex players? Most of the names are focussed on the premium end.
Our ticket admission rates are lower and we have not focussed on improving infrastructure and raising the admission rate. Those improvements will happen only in 2009. We will still want to have low-margin high value on the box office. But that does not mean we will have low margins in foods and beverages. F&B is a very high margin business.
It gives you 100-250 per cent margin even without fleecing the public. You go to a theatre expecting coffee to be expensive, and popcorn that is available for Rs 5 outside to be Rs 10 inside. Your price expectations are higher. So if we sell it for Rs 7.50, it will be seen as cheap.
We want people to see our F&B as an independent business. We want more footfalls. Our operating margins will always be less than 20 per cent for our theatre business.
What would the typical occupancy rates be?
In the first quarter it was about 44 per cent, and in second quarter, around 34 per cent.
Is it because it has been a good year for South Indian films?
No, not really. Honestly, whether a film is good or bad does not make a difference to us. This Diwali, every Pyramid theatre had a new film. Nearby theatres did not. That is because we distribute all films. We have effectively denied content to competition.
Monday, November 19, 2007
Saturday, November 17, 2007
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