With increasing losses, the exhibitors are offloading their properties to other businesses. While some are totally selling them off, some are leasing them for a steady income guaranteed for a longer lease period.
According to the latest information we have, at least fifteen theaters have decided to shut the shop and look at other business avenues.
The theaters are going to transform into warehouses, function halls, etc. Amba (Mehedipatnam), Galaxy (Tolichowki), Sai Raja (Musheerabad), Sri Rama (Bahadurpura), Shanti (Narayanaguda), Sree Mayuri (RTC X Roads), Venkatadri (Dilsukhnagar), Megha (Dilsukhnagar), and Sushma (Vanasthalipuram) are some of the theaters.
We have reliably learned that the bloodbath is not going to stop. More theater managements are in talks to finalize deals and by the time the theaters open, more will be added to the list. This is despite the fact that only a few days ago, the Government had announced several sops to save the theater businessDon't MissRavi Teja Personal Request to Aha'Krack' is still good running in the theatres and allowing it to run in the...Don't MissRepublic Poses A New Challenge For Sai Dharam TejThe title of Sai Dharam Tej’s new flick is out. It is named Republic. Deva...Don't MissSupreme Court Makes Serious Comments on AP Govt in Elections CaseThe Supreme Court has dismissed the AP Government's appeal against the conduct of the Local...Don't MissRRR Date Locked, Taking Huge Risk With Dussera ReleaseSo, all the speculations come to an end now. An official announcement has been made...Don't MissNaga Chaitanya's Bollywood Entry With This Crazy Project?Naga Chaitanya is a smart actor who is working on his strengths and slowly but...