Suresh Babu is a name that needs no introduction in Tollywood. Apart from being a leading producer in the industry, he also owns several movie theatres across Andhra Pradesh. These theatres have been in the Daggubati family for several decades and have screened several iconic Suresh Productions films during their blockbuster runs of 100 Days and above.
One such theatre is Jyothi Theatre in Visakhapatnam which is one of the iconic landmarks in the beach city. Suresh Babu has reportedly sold the theatre to a Vizianagaram-based businessman for an undisclosed amount. Reportedly, there are plans to construct a multi-story residential complex by demolishing the theatres.
The theatre has not been running well for quite some time. Adding to it, the Covid lockdowns and ticket pricing issues brought up by the government pushed Suresh Babu to take this step. The ace producer was quite vocal about the ticket pricing issues and choose to release two of his films Narappa and Drushyam 2 directly on OTTs last year.
The sudden sale of this iconic Jyothi Theatre has given rise to many speculations. While some say, this is in direct dissent to YS Jaganmohan Reddy, others believe it is just a business move and selling the theatre made more sense. Suresh Babu is currently producing Regina and Nivetha Thomas starter ‘Sakini Dakini’ and Sivakarthikeyan starter Prince.
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