Midvalley Entertainment Ltd Company Summary

Midvalley Entertainment Ltd Summary

Midvalley Entertainment Ltd is a multinational Media & Entertainment company and one of the Worlds fastest growing entertainment entities. The company is Film Production, Distribution and Exhibition Company, actively engaged in the media and entertainment industry in South India. Their major businesses are Exhibition and Concept Theatres, Film Production, Distribution, Hospitality, Cine Advertising, etc. The company has presence in the media and entertainment activity from concept to completion i.e. from script to screen. They produce, distribute and exhibit movies both in Indian and foreign languages. They also hold the music, video and television rights of movies, television serials for sales to TV Channels and other emerging media sources. They forayed into the exhibition business by way of entering into screening agreements with theatres in B & C category towns. The company currently has screening agreements with 46 theaters of which 34 are in Tamil Nadu, 7 are in Karnataka and 5 are in Andhra Pradesh. Further, they have a library of 651 movies in various languages. This consists of 417 Tamil movies, 107 Telugu movies, 52 Kannada movies and 75 Malayalam movies. Midvalley Entertainment Ltd was incorporated on July 12, 1989 as a private limited company with the name CTV Entertainment Pvt Ltd at Bangalore in Karnataka. In January 28, 2000, the name of the company was changed from CTV Entertainment Pvt Ltd to CEE (I) TV Entertainment Pvt Ltd. In February 4, 2000, the company was converted into a public limited company and the name was changed to CEE (I) TV Entertainment Ltd.In the year 2005, the company made a soft entry into exhibition business. In December 27, 2005, the name of the company was changed from CEE (I) TV Entertainment Ltd to Midvalley Entertainment Ltd. In the year 2006, the management of the company was taken over by Datuk K Ketheeswaran. They produced and released a Tamil movie Thambi. Also, they produced and released a Tamil comedy movie, Seena Thana 001 in September 2007.In the year 2008, the company completed the screening agreement with 85 theatres in B & C category towns. In the year 2010, they reduced the number of screens from 85 to 46 due to locational constraints, fall in the number of footfalls and subsequent reduction in collections.The company proposes to enter into screening agreements with additional 300 theatres in B & C category towns. They intend to enter into screening agreements with various single screen theatres and convert some select theaters into digital theme theatres. The company intends to modernize 100 theatres. These theatres will be provided with modern technologies like digital screen projectors and DTS sound system. Also, they intend to increase their focus on the locations in which the proposed screening rights acquisitions happen.The company is currently producing a Tamil movie, Alanganallur Kalai. Also, the company is in the process of venturing into the following areas of movie entertainment such as Drive-In Theaters, Combined Entertainment Plexes etc by way of organic as well as inorganic growth.