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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.

Los Angeles, Jul 1: Actor Priyanka Chopra Jonas has struck a two-year television deal with Amazon. The 37-year-old actor shared the news about her "multimillion-dollar" first look deal with the streamer in a post on Instagram.

"So honoured and excited to finally share this news with you. Looking ahead, we already have so much on our slate! Big thank you to @jsalke and her team at Amazon for being such great partners, and for sharing in the belief that talent and good content knows no boundaries," Priyanka wrote.

The actor, who launched her own production banner Purple Pebble Pictures in 2015, said she aims to create "great content" featuring "creative talent" from all over the world.

"This has always been the DNA of my production house Purple Pebble Pictures, and is the foundation of this exciting new endeavour with Amazon. ⁣⁣

"And as a storyteller, my quest is to constantly push myself to explore new ideas that not only entertain but most importantly, open minds and perspectives," Priyanka said.

She thanked her fans for being a "big part of my journey so far".

"And for those who are just getting to know me, or maybe only recognise me as Alex Parrish from 'Quantico', I'm excited for you to get to know me better," Priyanka concluded.

Priyanka, who started her Hollywood career with ABC series Quantico, has featured in films such as Baywatch and Isn't It Romantic.

Amazon Studios head Jennifer Salke told Variety that she bonded with the actor over their "shared passion for diverse global storytelling".

"Priyanka is drawn to exciting original content and characters that can resonate globally. She’s a powerhouse producer, and we are thrilled to collaborate with her for years to come," she added.

Prior to her deal with Amazon, the actor lined up two projects with the streamer. She will star opposite Game of Thrones actor Richard Madden in upcoming thriller series Citadel, to be produced by Anthony and Joe Russo.

The actor will also feature in Sangeet, an unscripted series co-produced with her husband, Nick Jonas.

Priyanka's another project with Amazon is a film about Ma Anand Sheela, the assistant to guru Bhagwan Rajneesh (also known as Osho). The actor will be producing the movie which is based on Netflix docu-series Wild Wild Country.

Besides her association with Amazon, the actor will next star in two Netflix projects -- superhero movie We Can Be Heroes and The White Tiger,  opposite Rajkummar Rao.

She is currently shooting for Keanu Reeves-starrer The Matrix 4, which recently resumed filming after production was halted by the pandemic.

Hollywood star Joaquin Phoenix finally ended his dry run at the Oscars as he picked up the best actor trophy for his performance in and as "Joker" at the 92nd Academy Awards.

The 45-year-old actor had earlier bagged a BAFTA, a Golden Globe and a Screen Actors Guild Award for his turn as a failed, unhinged stand-up comedian who descends into chaos.

In a lengthy and rambling speech, Phoenix touched upon racism, climate change and gender inequality. He also remembered his brother River Phoenix, who died of a drug overdose at the age of 23 in 1993.

"When he was 17, my brother wrote this lyric. He said, 'run to the rescue with love and peace will follow'," Phoenix said. At the Academy Awards and the entire Hollywood award season, Phoenix had emerged as an undisputed frontrunner even though he was up against the likes of Leonardo DiCaprio ("Once Upon a Time in Hollywood"), Adam Driver ("Marriage Story"), "Antonio Banderas ("Pain & Glory") and Jonathan Pryce ("The Two Popes").

An Oscar had eluded Phoenix for the most part of his career, despite his successful collaborations with Ridley Scott ("Gladiator"), James Mangold ("Walk The Line") and Paul Thomas Anderson ("The Master"), all of which had earned him nominations.

But as Arthur Fleck aka The Joker, Phoenix finally managed to break that jinx and became the second actor to win an Oscar for playing the DC comic book villain after the posthumous best supporting actor win to Heath Ledger in 2008.

As Joker, Phoenix took a deep dive into character, capturing its essence as well as maniacal spirit in both body and soul.

He lost 52 pounds to get into the physicality of Fleck and turned to a pathological disorder to get his distinct laughter right.

Phillips wrote the part keeping Phoenix in mind though the actor took some convincing to play the role.

Phoenix started the film's festival circuit tour on a positive note at Cannes last year that followed by stops at Venice and Toronto.

The film had also courted controversies, owing to its theme of gun violence in the movie as well as Phoenix's temperamental press tour that saw him walking out of an interview midway.

But critics and the fans loved the actor's riveting turn in the movie and his pointed speeches.

At the Golden Globes, he called out the industry for its insensitivity towards climate change and pulled up his peers for using private jets for travel, while at the SAGs, he joked how he would always lose a role to DiCaprio and asked Christian Bale to deliver a bad performance for once in his career.

In his acceptance speech at the BAFTAs, Phoenix acknowledged the lack of diversity in the nominations, calling himself a part of the problem. Phoenix's career most praised performances include "Signs ", "We Own the Night", "Two Lovers", "The Immigrant", "Her", "You Were Never Really Here" and "Inherent Vice".