Movies

UFO Moviez to invest Rs 2 bn for Scrabble Entertainment's India expansion

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/04/10/Kapil-Agarwal.jpg?itok=kxxltHd5

MUMBAI: UFO Moviez, the Valuable Group-promoted digital cinema network, said today that it has committed an investment of Rs 2 billion to fuel the growth and expansion plans in India of Scrabble Entertainment.

UFO Moviez recently increased its stake in the company to 52 per cent, from earlier 26 per cent. It also said that the international roll out plans of Scrabble Entertainment will entail a capex of $150 million, which is to be funded by way of "international debt" and "further equity infusion by UFO Moviez".

UFO Moviez joint MD Kapil Agarwal said, "The UFO-Scrabble combine is the only alliance in the world that offers non DCI satellite based digital cinema solutions as well as DCI-compliant solutions with VPF (Virtual Print Fee) deals to the global and Indian film industry. By acquiring majority stake in Scrabble, UFO Moviez has reiterated its commitment to ensuring that the Indian film industry ecosystem benefits from the resulting cost-efficiency and increased reach of content by taking Hollywood content to cinema lovers across ?Bharat? and beyond its metros. We shall ensure that this Indian combine started by first generation entrepreneurs now goes global."

The UFO-Scrabble combine will now increase the number of DCI compliant cinemas from 300 (that Scrabble has presently installed in around 30 major cities since its inception in 2007) to 800 (single screens as well as multiplexes) within six months. This will ensure that cinema viewers in Tier II and Tier III cities in India will now get a chance to watch Hollywood content because the six Hollywood studios only give content to DCI compliant platforms, UFO said in a statement.

Scrabble Entertainment is promoted by Sunil Patil and Ranjit Thakur and is the only aggregator in India which has Virtual Print Fee rights from Hollywood studios for providing DCI (Digital Cinema Initiatives) compliant solutions. After UFO Moviez? acquiring controlling stake, Patil and Thakur own 27 per cent stake in the company, while the balance equity is held by Manmohan Shetty?s Walkwater Media.

Scrabble Entertainment CEO Thakur said, "Scrabble is happy to partner with UFO Moviez, an organisation that has changed the landscape of the film industry in India by offering innovative technology solutions for its betterment and growth. We look forward to ensuring that more and more audiences across India can now enjoy high quality films on a digital platform."

Scrabble Entertainment claims that it has already signed VPF deals with Hollywood studios and is now ready to go global in 10 countries - Middle East and Eastern Europe (UAE, Oman, Qatar, Bahrain, Kuwait, Syria, Jordan, Lebanon, Cyprus and Bulgaria). It is also looking very enthusiastically at expanding its footprints in Latin America (Brazil, Argentina, Chile and Mexico).

"Scrabble expects to install around 2000 screens internationally in the next two years, out of which deals for over 600 screens in the Middle East have already been finalised," the company said.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/08/28/sui.jpg?itok=HerknJdt
Usha International associates with YRF’s Sui Dhaaga – Made in India

Usha International, one of India’s leading household consumer durables company, proudly announces its association with Sui Dhaaga - Made In India produced by Yash Raj Films and starring Bollywood heartthrobs Varun Dhawan and Anushka Sharma.

Movies Hindi
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/26/kamal_5.jpg?itok=xRiIWXqM
Kamal Haasan talks about the pathbreaking films that inspired his career

MN+, the gold class of Hollywood movies associated with Kamal Haasan’s Vishwaroop 2 for Season 3 of Pathbreakers.

Movies Hollywood
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/26/ganga.jpg?itok=ccflQVvn
No. 1 Bhojpuri Channel, ZEEL’s Big Ganga collaborates with foremost Bhojpuri superstar Ravi Kishan for a 7-movie deal

Over the last two decades, Bhojpuri movies industry has seen a revolution in the form of content, talent, and production.

Movies Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/26/Zee%20Cinemalu.jpg?itok=XUZCLS1p
Zee Cinemalu Announces World Television Premiere of Superhit Romance-Idi Maa Prema Katha

Continuing to respect and support new-time actors, Zee Cinemalu’s World Television Premiere of Idi Maa Prema Katha stars the well-known faces from the small screen – Zee Telugu’s very own Anchor Ravi and Kalyana Vaibhogam-famed Meghana Lokesh.

Movies Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/16/itefaq.jpg?itok=uI4jxNky
&pictures to air Sonakshi Sinha and Sidharth Malhotra?s spine-chilling thriller Ittefaq on Saturday, 21st July 2018 at 8pm

A CBI officer is assigned a double murder case which involves two witnesses who are also the prime suspects of the case.

Movies Hindi
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/16/monkey.jpg?itok=0potPgXf
Zee Action to air The Monkey King 2 on Saturday, 21st July at 8pm

Five hundred years after the Havoc in Heaven, the Tang Priest is appointed by Buddha to go to the West to fetch the sacred scriptures

Movies Hindi
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/14/ze.jpg?itok=FFtCj6MW
Zee to launch Zee Classic HD channel

The Punit Goenka-led Zee Entertainment Enterprises Ltd (ZEEL), is all set to launch Zee Classic's HD version.

Movies Hindi
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/13/shemaroo-india.jpg?itok=5OljtmuK
Shemaroo Entertainment Releases Padmaavat On Blu-ray and DVD for Cinema Lovers

Shemaroo Entertainment Limited, one of India?s leading global content power house, released the Blu-rays and DVDs of Sanjay Leela Bhansali?s magnum opus, Padmaavat- one of the most expensive Indian films ever made.

Movies Hindi
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/07/10/pvr.jpg?itok=46nizMNQ
Al-Futtaim, PVR sign MoU to explore opportunities in MENA region

Multiplex operator PVR signed a memorandum of understanding (MoU) with Dubai's Al-Futtaim to explore opportunities to jointly develop cinema business in the Middle East and North Africa (MENA) region.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories