Future Media won the bid from among five competitors. Future Media being the largest retailer-owned media company with a pan-India network was also a factor that went in its favour.
Future Media is currently in the process of acquiring media rights of non-Future group companies. The on-screen media rights of Inox multiplexes is the second such acquisition, after the recently acquired 22 Camac Street Mall in Kolkata.
Partho Dasgupta, chief executive officer, Future Media, said, "The acquisition of on-screen media rights of the Inox chain of multiplexes reinforces our commitment to help brands reach consumers at the last mile. With the entertainment space today getting extremely dynamic and exciting, we are very pleased to have partnered with INOX, a leading multiplex chain with pan-India presence, providing high-quality entertainment."
The partnership currently spans 18 operational Inox multiplexes with 62 screens and will go on to include upcoming multiplexes as well.
Inox currently operates 18 multiplexes and 62 screens in 15 cities.
Having received numerous awards, including the 'Emerging Superbrand Award 2007', Inox has expansion plans to reach cinema lovers in all parts of the country.
Alok Tandon, chief operating officer, Inox Leisure, said, "To the nearly 75,000 cinegoers walking into our multiplexes every day, Inox is a lifestyle statement rather than just another multiplex. Inox today provides what is clearly the best cinema experience the Indian patron has ever had. The strength of the Inox brand combined with the very professionally run Future Media will prove fruitful for both parties involved."
Future Media, which owns rights for all media properties such as televisions, visual spaces, radio and a print property called My World, within the Future group retail formats, provides brands an opportunity to reach target consumers, be it at malls, airports, cafeterias or multiplexes.
