Seven Seas Entertainment, which has a fleet of theatres in India and has been running a show house for years, is now in talks to buy out a theatre in Delhi and another in Hyderabad.
In the latest development, the Telugu-language channel has posted an advertisement on its Facebook page.
“We have been in talks with the promoters and are in the process of finalising a deal,” said Anand Dinesh, chairman and managing director of Seven Seas.
Seven Seas has theatres across the country.
The company has about 40 shows and a showhouse in Hyderabadi, a town in Karnataka that was once a small fishing village.
The film industry in India is booming and the film industry is also in the midst of a boom.
There are about 200 films in production, and some films are expected to be released by the end of this year.
Seven is currently in negotiations with the Telangana government to launch a show in Hyderbad and Bangalore.
A local newspaper reported that the sale of the Telavans shows would mean a loss of $1.5 million.
Seven will also be selling out shows in Chennai, Pune, Bengaluru and other cities.
Seven has been in the news recently because it has lost money on its shows in the last couple of years.
Earlier this year, the company’s parent company, India-based Telenor Corporation, had announced a plan to sell its shares at a loss.
Seven, meanwhile, is also reeling from the losses.
The losses have hit Seven’s financials hard, as it has faced competition from other entertainment companies in the market.
The business of the Seven Seas theatres has been growing for decades.
Seven began operating in India in 1990 and has a portfolio of theatre and television shows.
In 2014, the group launched its first show in Telangakshmi, a city in Andhra Pradesh state.
Seven also owns theatres on the island of Andhra, which is in the southern Indian state of Tamil Nadu.
The Telavas theatre chain, which also runs theatres and television programmes, also has theatre shows in Bangalore and Mumbai.