Haryana leader who offered bounty for Deepika's head resigns

New Delhi, Jun 9: Multiplex operator PVR on Monday said it has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business.

The company said at present it is not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.

According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity.

PVR has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with "reduction in headcount by way of layoffs/retrenchment" to mitigate the adverse impact of COVID-19 on the business.

Moreover, the board of the company, in its meeting held on Monday has also approved plan to raise Rs 300 crore through rights issue.

"Since Cinema Exhibition is the only business segment, company is currently not generating any revenue from admissions, food and beverage sales or other revenue and cash flow from operations," said PVR in an update.

Beginning from March 11, PVR started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, it added.

The company will continue to incur committed cash outflows, including employee salary pay-outs, other overheads as well as payments for older working capital.

"This has and will have a significant negative impact on profitability and liquidity during lockdown and even thereafter till business comes to normalcy," it added.

Further, once the cinemas are re-opened, we may not be able to run our cinemas at normal capacity utilisation levels on account of social distancing measures that cinemas may be required to follow as well as health concerns that the patrons may have, the multiplex operator said.

"On account of this, our revenue and cash flow generation may be impeded even once we are allowed to restart operations," it added.

The company has also deferred decision on on increments to reduce its cost, it added.

PVR has also written to developers for waiving rental and CAM (Common Area Maintenance) charges for the lockdown period.

It is in discussion with developers for reducing rentals post re-opening and has invoked force majeure clause in its agreements with them.

Besides, the company has raised additional borrowings from existing bankers to shore up liquidity.

"As of March 31, 2020 the company had cash and bank balance of Rs 316 crore. As on June 7, 2020 cash and bank balance is Rs 227 crore (including undrawn bank lines)," it added.

Over reopening of theatres, PVR said that the government has come out with a phase-wise schedule.

In these guidelines cinema halls have been kept in the third phase of re-opening, where dates will be decided based on assessment of the situation.

"We are in continuous engagement with all regulatory authorities and hope to receive the necessary permissions for restarting opening in the near future," it added.

Currently PVR operates 845 screens in 176 properties in 71 cities.

Mumbai, Jun 30: Actor Vivek Oberoi on Tuesday announced that he is set to make his debut as a producer with a high-concept thriller titled "Iti- Can You Solve Your Own Murder”.

The whodunit thriller will be directed by Vishal Mishra, who has previously helmed on films "Coffee With D” (2017) and "Hotel Milan” (2018).

"Iti" will be produced by the actor's banner Oberoi Mega Entertainment, Mandiraa Entertainment and Girish Johar. It is creatively backed by Prernaa Arora.

The 43-year-old actor said he trusts Vishal’s vision and liked the idea so much that he decided to back the project.

"I’m sure it’s going to be an exciting journey with Prernaa, team Mandiraa and Girish. We hope to present an engaging piece of cinema to the audiences with this," Vivek said in a statement.

The film revolves around a woman who is racing against time to solve her own murder. The project is expected to go on floors by October and release in the first quarter of 2021.

“I’m super excited and keen to share this story with our audiences. Vishal is a very gifted talent and we are pretty sure that with this film, we have a winner on our hands," Johar said.

Vivek's last Bollywood big-screen appearance was in 2019’s "PM Narendra Modi". He was also seen in season two of Amazon Prime Video's thriller "Inside Edge".

Mumbai, Mar 14: Animal Planet has announced a new documentary "The Zoo: COVID-19 And Animals", which seeks to explore the effects of coronavirus on animals.

The special will see Dave Salmoni, Animal Planet’s big cat expert, talking to a number of experts, from the World Health Organization to wildlife biologists, in order to find out how COVID-19 is affecting animals and what pet owners can do to safeguard them.

The issue came to forefront when a four-year-old Malayan tiger tested positive for COVID-19 at Bronx Zoo in New York.

The documentary will feature chief veterinarian of Bronx Zoo, who will give an update on the big cats and their treatment, and also Dr Peter Embarek from WHO's COVID-19 Task Force, who works particularly on all aspects of the virus related to animals.

In a statement, Salmoni said, "When news about Nadia the tiger came out the questions immediately began; what about my pets? How do I keep my animals and family safe? We’re going to answer these questions and more through this documentary."

"We're speaking to a wide range of experts from the World Health Organization, to wildlife biologists, to veterinarians. We are at war with this disease and so we get down to the nitty-gritty, and discuss practical questions about daily lives with our pets," he added.

Sai Abishek, Director – Content, Factual & Lifestyle Entertainment – South Asia, Discovery, said, "We have been the forefront of busting myths around novel coronavirus with international documentaries. With this latest film, we take a hard look at how animals are being treated during such a crisis and the safety measures that can be taken to keep both, the people and their pets healthy."

"The Zoo: COVID-19 And Animals" will premiere on May 17 on Animal Planet, Animal Planet HD and Discovery Plus app.