Barco is doubling down on its immersive audio efforts by hiring away IOSONO’s audio team and setting up what is now called Barco Audio Technologies [BAT?]. This could potentially mean moving away from a dependance on the Auro brand and Auro Technologies partnership, though the latter is quoted on how thrilled they too are about the new corporate sibling’s arrival.
With 500 screens committed or installed, Barco is now ready to take immersive sound to the next level. The digital cinema leader is adding the team of 3D audio expert IOSONO and its assets to the Barco family to further enhance and customize its object based immersive sound technology. In this way, it wants to help cinema exhibitors bring even more magic to the movie-going experience. LINK
And since Barco does not have any film immediately lined up to follow “The Maze Runner” for its Escape triptych-screen it is venturing into event cinema, by announcing a concert film with Lady Gaga and Tony Bennett.
Barco will collaborate with Universal Music/Interscope Records and recording artists Tony Bennett and Lady Gaga to bring their performance at the Grand Palace in Brussels into Barco Escape theaters in early 2015.
The performance will be filmed today specifically for the Barco format, the day before Tony Bennett and Lady Gaga’s “Cheek to Cheek” album of jazz and popular standards is set to release worldwide. LINK
The interest in India’s multiplex business is heating up, with yet another private equity company talking to two multiplex veterans about setting up a new cinema venture called Cinemasia, that could be looking beyond just India.
Private equity fund Everstone Capital may team up with two individuals with experience in the entertainment industry to start a venture called Cinemasia, three people familiar with the development said. Everstone is in talks with Shravan Shroff, the former promoter and managing director of multiplex operator Fame India Ltd, and Pramod Arora, who recently quit PVR Ltd as group president, the people said on condition of anonymity.
This would be Everstone’s maiden venture in the multiplex business, which has already attracted other private equity funds. Renuka Ramnath-promoted Multiples Alternate Asset Management Pvt Ltd and L Capital Asia, the third party private equity fund of LVMH Group, backed PVR Ltd to acquire Cinemax India Ltd in November 2012. Before selling off Fame, Shroff also raised capital from India Value Fund and Singapore’s sovereign wealth fund Temasek Holdings (Private) Ltd. LINK