Pyramid Saimira buys Mumbai cine ad company

Entertainment company Pyramid Saimira has acquired 51 per cent stake in Mumbai-based advertising company Dimples Cine Advertising Pvt Ltd and Dimples Cine Activations.

While the value of the deal isn't known, the acquisition is a strategic decision that will fuel further growth of Pyramid Saimira.

Pyramid Saimira Group through its subsidiary Pyramid Saimira Theatre operates over 44 multiplexes (703 screens) in India, Malaysia, Singapore and North America. By 2010, the company intends to own over 175 multiplexes with 1,000 screen in India. With the stake acquisition in Dimples, Pyramid will foray into theatre advertising, out-of-home advertising and so on.

"The 1,000 screens we will roll-out and additional 1,000 screens owned by other multiplex owners, our target is to be present in at least 2,000 screens for ciematic advertising," said P S Saminathan, managing director, Pyramid Saimira Theatre.

He added that the company plans to acquire 50 single-screen cinema halls in Mumbai alone. It has also acquired Liberty Cinema. On the exhibition front, the company will invest over Rs 12 crore each year.

Last month, the company acquired Texas-based theatre chain FunAsia (17 screens) through its subsidiary Pyramid Saimira Entertainment America. It intends to increase its footprints in the UK as well.

In the film distribution space, according to Saminathan, Pyramid's target is to distribute 200 films a year including Hindi films. "Our aim is to earn around Rs 700-800 crore from distribution and around Rs 400 crore from film production," he added.

If that wasn't enough, the group company through its subsidiary Pyramid Saimira Productions which houses all film production and distribution business, plans to produce television content for regional channels.

"Our aim is to make at least 12 shows (soaps and format shows) by FY08 for regional channels, be it Tamil, Telugu, Malyalam, Kannada, Bengali, Marathi, Punjabi and Gujrathi," said Suresh M Iyer, group president (marketing), Pyramid Saimira Theatre.

The company's show is already up and running on Kalaingar TV, in two weeks Raj TV too will air a show.

The group also has presence in radio broadcasting. It operators three stations in the US. "We will participate in the next round of radio licence bidding (in India)," confirmed Saminathan.

He added that the company plans to roll-out an internet protocol television (IPTV) service as well. "All new media businesses will house under a separate subsidiary. The radio business too will come under that subsidiary," he said.

Pyramid Saimira will launch a cine magazine in South India in January. It has taken over a magazine in the US 'Desi Pages'. Going forward it will roll out more magazines in India in a phased manner.