Bengaluru: Amazon.com Inc.
India’s arm is in talks with several domestic players in the distribution of films and media including Cinema Chain Inox Leasure Ltd.
for potential shares, Indian Express newspapers report on sources Tuesday, quotes.
INOX, however, said the report was “factually wrong” and there was no discussion between the company and the Indian Amazon.
The shares of the company headed by Mumbai jumped as much as 14.3% to RS 346.20 after the report, but was peeled by several increases until the last trade was 6%.
Amazon India plans to expand Videon Prima Streaming Content platforms and evaluate three to four transactions, according to the report.
India has become a competition nest for companies such as Amazon, Netflix Inc.
and Walt Disney Inc., all of which have invested significantly to improve original streaming content in regional languages.
Giant e-commerce in January has launched a subscription plan with only lower prices for video streaming services in India, which underestimates a similar plan with Netflix to customers who are sensitive to prices.
The main video has marked its robbery into Indian film production in March and calculates the South Asian nations as one of the fastest growing markets.
INOX, the second largest multiplex chain in India, has reported net losses for at least five consecutive quarters since March 2020, when the Kuncian Coronavirus nationally applied.
Amazon India did not immediately respond to a request for a comment.