The swanky 11-screen Luxe Multiplex at Phoenix Market City in Velachery, owned by SPI Cinemas, has been acquired by Jazz Cinemas, formerly known as M/S Hot Wheel Engineering for a fancy number. It is also reported that Jazz Cinemas is co-owned by V Sasikala, a close aide of Chief Minister Jayalalithaa. Luxe Cinemas was opened to Public in March, after a long struggle in getting the security clearance. Sources also say that the deal was in the offing for a long time and was closed earlier this year.
Meanwhile, on the other hand, DMK President M Karunanidhi has alleged that the multiplex owners were threatened and forced to sell their assets. Two other multiplexes were also pressurised by the same group.
