From the press release:
As the largest circulating English cinema magazine in India for South Indian movies, Galatta Cinema offers a complete coverage of South Indian movie industries in an urban, interesting and colorful way. An exciting read, Galatta Cinema is the print media initiative of Galatta.com, South India's No.1 movie portal.
They've also released the app in the Nokia store and the Android Marketplace.
I downloaded it, and it looks like your average pop culture magazine. It's an exact copy of the paper edition, unfortunately. I was hoping that the formatting would be better. This is first a web company; they could have served up their web content instead of the paper edition.
You can also get a digital subscription to Galatta Cinema for $10 a year (PDF only).