Anil Ambani-controlled entertainment company Adlabs Films Ltd said on Thursday it will acquire a majority stake in Synergy Communications Pvt Ltd.
Adlabs Films Ltd has posted a net profit of Rs 40.84 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 24.21 million in the quarter ended December 31,2001.
Reliance Capital-controlled Adlabs Films Ltd on Thursday said it is planning to acquire overseas distribution business of Hindi films.
Anil Ambani-controlled Reliance Capital along with Reliance Land Pvt Ltd have acquired 30.55 per cent stake in Adlabs Films.
In a partial reprieve to Manmohan Shetty, former chairman of media company Adlabs Films, the Securities Appellate Tribunal (SAT) on Friday lowered the penalty amount to Rs 25 lakh from Rs 1 crore for alleged violation of regulatory norms.
Adlabs Films Ltd, which on Monday launched its first FM radio station - BIG 92.7 FM - from New Delhi will invest Rs 400 crore (Rs 4 billion) to set up its network spanning 45 cities in the country by April 2007.
Adlabs Films, which is to be acquired by Anil Ambani-controlled Reliance Capital for Rs 360 crore (Rs 3.60 billion), has fixed a price of Rs 175.20 for each share and warrant for preferential issue to be sold to the new buyer.
Adlabs Films Ltd would take up the proposed increase in share capital to Rs 25 crore (Rs 250 million) from the existing Rs 15 crore (Rs 150 million) through prefential issue at the extra ordinary general meeting, scheduled to be held on July 26 next.
Led by wife Latha and Adlabs, the film will start soon.
NDTV Imagine, the entertainment wing of Prannoy Roy-promoted NDTV Network, is close to forming a 50:50 joint venture with Manmohan Shetty - the former promoter of Adlabs - to enter film production.
Big Cinemas, is one of the biggest cinema chains in the country and currently has 457 screens spread across India, the US, Malaysia and the Netherlands.
The company has reorganised the Big Cinemas operations into geographies to adequately support its expansion in regional markets, Reliance MediaWorks said in a filing to the Bombay Stock Exchange. Big Cinemas would focus on the company's operations in North, East and Central India.
BIG Cinemas made major renovations and re-opened Movie City in Edison, New Jersey.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
The derivative contracts in the underlying Essar Oil, IFCI, Rajesh Exports, Adlabs Film, Arvind Mills, Nagarjuna Fertilisers and Bongaigoan Refinery are currently in the ban period, a NSE circular said on Wednesday.
The first private FM radio started airing its programmes in Srinagar on Monday.
In a unique high-tech venture, a Singaporean technology firm has won a multi-million dollar deal to upgrade 400 Indian cinema halls with digital projectors by April 2004.
A look at the star arrivals.
The funeral took place in the evening at the Vile Parle Seva Sansthan Shamshan Bhoomi in suburban Mumbai, many friends of the Bachchan family attended it to pay their last respects.
Marigold has been in the making for a long time.
The news of Neeraj Grover, Creative Head of Synergy Adlabs, allegedly killed by actress Maria Monica Susayraj and her boyfriend Naval officer Lt M L Jerome Mathew seems to have inspired Bollywood filmmaker Mahesh Bhatt.
The Kannada film industry was in a state of shock after hearing the news. Monica has acted in four Kannada films in a career spanning six years. She had created a lot of controversies and her name featured regularly in magazine gossip columns.
The celebrities offer their condolences.
Adlabs Imagica offers 21 rides, including one based on Mr India.
With Mumbai's iconic Liberty cinema reopening for movie lovers, the spotlight is now on the city's famous Art Deco theatres.
Film production and distribution company Shringar Cinemas has decided to set up its own independent chain of multiplexes under the FAME brand name.
'If you have only one hit out of 100 movies in a year, it is death for Bollywood.'
