Reliance MediaWorks Ltd Company Summary

Reliance MediaWorks Ltd Summary

Reliance MediaWorks Ltd is Indias fastest growing film and entertainment services company and a member of the Reliance Anil Dhirubhai Ambani Group. The company has a dominant and comprehensive presence in Film Services: Motion Picture Processing and DI, Film Restoration, Digital Mastering, Studios and Equipment rentals.The company operates Indias largest cinema chain with about 525 screens spread across India, US, Malaysia, Nepal and Netherlands. They have a significant presence in the film distribution space with a nationwide presence. The companys television venture, BIG Synergy is among the top players in the television programming industry.The company operates in three segments: film facilities, which involves processing of raw exposed films, color correction, editing, digital processing, equipment rental, copying and printing of positive exhibitions prints and trading in raw film rolls; theatrical exhibition, includes single screen, multiplex/Imax cinema exhibition, range of activities offered at cinema centers, including catering food and beverages, and film production and distribution, which represents acquisition of movie rights for overseas, as well as Indian distribution for a fixed period.Reliance MediaWorks Ltd was incorporated in the year 1987 as a private limited company with the name Adlabs Films Ltd. The company initially catered to the Ad film market hence the company had Adlabs in their name. The company is currently listed on Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd.In the year 2002, the company entered into the film production business through their 100% subsidiary company, Entertainment one India Ltd. The joint venture between the company and Mukta Arts had introduced the digital distribution concept since 2003. During the year 2003-2004, the company acquired 6% stake in Prime Focus Ltd, a closely held public limited company engaged in providing post production services like editing, special effects, computer graphics etc to the film and advertising industry.In August 2005, Reliance Land Pvt Ltd acquired the company and became the holding company. During the year 2005-2006, the company participated in the bidding of the FM Radio Licenses initiated by the Ministry of Information and Broadcasting and won 45 licenses.Entertainment One India Ltd and the digital business of Mukta Adlabs Digital Exhibition Pvt Ltd were merged with the company with effect from April 1, 2005. They acquired a majority stake in Synergy Communications Private Limited. During 2006-07, the company acquired 100% stake in Katch 22 Entertainment Pvt Ltd. During the year 2007-08, the company opened a new state-of-the-art digital laboratory to complement their processing business within the same premises at Film City, Mumbai. Also, Katch 22 Entertainment Pvt Ltd, a wholly owned subsidiary company was merged with the company with effect from April 1, 2006.In May 31, 2007, the company signed an agreement and acquired 100% stake in Rave Entertainment Pvt Ltd, which owns and operates the brand Rave Cinemas at Kanpur. Also, they entered into agreements with several existing cinema properties for operating 200 screen cinema exhibition chain in USA. In December 20, 2007, the company increased their stake to 100% in the joint venture company, Runwal Multiplex Pvt Ltd, which owns and operates the multiplex R-Adlabs in Mulund, Mumbai.During the year 2008-09, Rave Entertainment and Food Nepal Pvt Ltd, Reliance Big Entertainment Inc, Big Pictures USA Inc, Adlabs Digital Media USA LLC, Reliance Big Entertainment Malaysia SDN BHD and Reliance Lotus Five Star Cinemas SDN BHD became subsidiaries of the company.In May 2008, the company entered into agreement for acquisition of majority and controlling interest in Malaysia based Lotus Five Star Cinemas to operate a 51 screen cinema exhibition chain in Malaysia. In May 2008, they also launched Indias first 6D cinema experience at Agra. In May 2009, the company established business process outsourcing operations for the media space. Also, they acquired 100% stake in AAA DigitaL Imaging Pvt Ltd, a company engaged in digital restoration of content and other allied processing activities with effect from May 4, 2009.The wholly owned subsidiaries namely, Rave Entertainment Pvt Ltd, Adlabs Multiplex Ltd, Adlabs Multiplexes and Theatres Ltd, Mahimna Entertainment Pvt Ltd were merged with the company as per the scheme of arrangement with effect from May 29, 2009. The radio business of the company was de-merged and transferred to Reliance Media World Ltd (formerly Reliance Unicom Ltd) with effect from June 30, 2009. The name of the company was changed from Adlab Films Ltd to Reliance MediaWorks Ltd with effect from October 20, 2009. In December 2009, the company partnered with 2D to Stereo 3D conversion pioneer In-Three to establish the facility dedicated to the conversion of 2D films and videos into 3D, based in India. In January 2010, they acquired the assets of ilab UK LtdIn March 2010, the companys radio division BIG 92.7 FM entered into a partnership with OnMobile Global Ltd to launch the radio experience on the mobile platform. In March 17, 2010, they concluded an MoU with IMAGICA Corp, Japans largest lab and post-production company in which the companies would provide Film Restoration, Image Processing and Enhancement and HD Conversion services to Japanese Broadcasters and Studios.In March 25, 2010, the company made a strategic business alliance with UFO Moviez for establishing the largest gateway for digital film releases on the silver screen in India.