Digital movie distribution firms K Sera Sera (KSS Ltd) and United Mediaworks Ltd have decided to merge their operations to form a joint venture called KSSUMW Digital to become the third largest player of the country.
K Sera Sera's Satish Panchariya will be the chairman, while United Media Works' Ashish Bhandari will be the managing director of the new company.
The joint venture will spend Rs 100 crore in the next two to three years to improve its digital cinema technology, on ground services and digital content security. The company also mentions that it will build a technology platform for content acquisition, processing and field servicing and provide these solutions to multiplexes and single screen theatres. Overall, the joint venture aims to be present in 2000 screens in India over the next 2 years.
As of now, United Mediaworks focuses on providing its services in Bihar, Jharkhand, UP, Gujarat, West Bengal and Karnataka, while K Sera Sera focuses on the Delhi, UP, Punjab, Haryana, Uttarakhand, Gujarat, Maharashtra, Himachal Pradesh, Chattisgarh, Madhya Pradesh and Andhra Pradesh markets. Both companies service the theatre industry in the country with movie distributions, projectors, digital content security etc.