Sun Innovation acquires 70% of Digital Domain
Reliance to retain 30% as minority stakeholder
Reliance, Wanda unveil partnership
Indian and Chinese giants in historic agreement
Reliance, Horse ride to Domain rescue
Indian, Chinese firms poised to save US effects partner
Asia caught in Domain's financial woes
Partnerships in doubt at high profile Indian, Chinese firms
Reliance MW raises $57 million
Restructuring still incomplete, Fame stake shrinks
Reliance to expand South
Facilities giant seeks alliances, more capacity
Reliance MW approves restructuring
Cinemas and facilities to seek private equity finance
Reliance MW plans restructuring
Indian giant loses money; may unbundle cinemas, film services
Reliance pacts with Digital Domain
New Indian facility to service US special effects clients
Reliance in loss, UTV increases profits
Strong films helps UTV in Q3; Reliance is hit by interest, investment costs
Reliance expands post-prod empire to Europe
Indian company acquires assets of UK's ilab
Arjun departs from Reliance MediaWorks
By Patrick Frater
Sun, 05 August 2012, 23:47 PM (HKT)
Arjun will be credited as a strategic advisor to the company.
Reliance MediaWorks, which was born of the Reliance ADA Group's takeover of Adlabs, has piled up losses as it expanded. This year it has announced a trio of cash raising exercises totalling over $275 million at the same time as it split itself into its two main component units.
The separation will "enhance the independent focus of each operating division and therefore enhance revenues and profitability," RMW said in its statement to the stock market.
The facilities division includes digital post-production services; content processing, image enhancement and restoration services, visual effects and 2-D to 3-D conversion services in the US, UK and India; and an 8-stage film studio in Mumbai.
The Big Cinemas circuit includes 490 screens worldwide spanning India, the US, Malaysia, Nepal and The Netherlands.