INOX Leisure to merge with PVR in a $1.6bn deal.

INOX Leisure, a multiplex operator engaged in film exhibition and operating and managing multiplexes, agreed to merge with PVR, a diversified media company, in a $1.6bn deal. “Coming together of two iconic cinema brands, which are driven by passion, is certainly the most historic moment in the Indian cinema exhibition industry. Both companies have set high service benchmarks in an endeavor to offer the best cinema experience in the world, to the most passionate moviegoers, and would continue to do so as a unified entity. As we head into the industry’s revival amidst headwinds, this decisive partnership would bring in enhanced productivity through scale, a deeper reach in newer markets and numerous cost optimization opportunities, and continue to delight cinema fans with world-class experiences and landmark innovations," Siddharth Jain, INOX Leisure Director.