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Tag: Reliance Media Works

  • Reliance Media Works files revised dates draft letter for acquiring 26% of Prime Focus

    Reliance Media Works files revised dates draft letter for acquiring 26% of Prime Focus

     BENGALURU: Reliance Media Works Limited (RMW, acquirer) has filed a draft letter of offer (LOF) with revised dates on the bourses for acquisition of a 26 per cent voting stake in Prime Focus Limited (Prime Focus, target company). RMW is acting in concert with Reliance Land Private Limited, Namit Malhotra, Narseh Malhotra and Monsoon Studio Private Limited (Monsoon Studios).  

     

    RMW will make a cash offer at Rs 52 per Equity Share to acquire up to 7,77,08,534 Equity Shares of face value of Re 1 each representing 26 per cent of the emerging voting capital (EVC) of Prime Focus. The target company’s EVC  comprises the paid-up equity share capital of Rs 29,88,78,974 divided into 29,88,78,974 equity shares, being the paid-up equity share capital of the target company after the allotment of the preferential allotment – 11,34,61,538 Equity Shares to the acquirer and Monsoon Studios on a preferential allotment basis.

     

    The offer shall open on 19 December 2014 and will remain open until 2 January 2015. All owners (registered or unregistered) of Equity Shares, regardless of whether he/she/it held Equity Shares on the identified date 5 December 2014), are eligible to participate in the offer any time before the closure of the tendering period.

     

    Click here to read the offer letter

  • Reliance Media Works helps amplify 2014 FIFA World Cup fever

    Reliance Media Works helps amplify 2014 FIFA World Cup fever

    MUMBAI: As the excitement in the air builds, fans all across the world gear up for the biggest football tournament.  From social networking sites, advertisement commercials to sports bars the 2014 FIFA World Cup fever is everywhere. And this year for the first time Reliance MediaWorks is proud to be associated with Sony SIX for this mega event. The company has partnered with the official broadcasters – Multi Screen Media who are using the state of the art sound stages at Film City to shoot Café Rio, a prime time football wrap around show that is being aired on Sony SIX.

     

    Café Rio is a prime time show where experts from the football field and some football legends come together to offer in-depth analysis of player forms, group standings, strategies and the matches being played. With a combination of sports and entertainment this show promises to captivate both the football purists and enthusiastic viewers. The line-up is promising including Peter Crouch, Robbie Fowler, Peter Shilton, Mikael Silvestre, Ellyse Perry, Sunil Chhetri and John Abraham.

     

    For this one month long program, keeping in mind the stringent requirements that involved several elements including live stadium action and studio programming on a daily basis, the entire consolidation was done at the Reliance MediaWorks studio facilities so that the seamlessly integrated programme is available to delight millions of football fans on a daily basis.

     

    Availability of the best in class infrastructure, onsite technical support, high standards of quality & security; all within the reach at a convenient location like Filmcity was the key reason that made this the preferred choice.

     

    Known for their Hollywood benchmarked infrastructure, Reliance MediaWorks currently offer four sound stages for all production requirements for broadcast, film, TVCs & events. The new set of four stages which also have the same technical specifications, will be operational by September 2014.

     

    MSM executive vice president and business head Prasana Krishnan said, “2014 FIFA World Cup is without a doubt the most anticipated event of the year. In order to deliver the very best to our viewers, we had to ensure that everything that goes into the creation of the content is of the very finest quality. Thereby, our preferred choice of high technology studio facility was Reliance MediaWorks.”

     

    Reliance MediaWorks chief executive officer Venkatesh Roddam, added, “After our repeated successful collaboration for Pepsi IPL Extraaa Innings, we are partnering with Multi-Screen Media yet again for Café Rio this time. They constantly offer path breaking programming concepts to the discerning viewers and we at Reliance MediaWorks are happy and proud to be associated in this first of its kind programming initiatives for football in India.”

  • Reliance Media Works announces lower loss in Q3-2014

    Reliance Media Works announces lower loss in Q3-2014

    BENGALURU: Indian media and entertainment giant Reliance Media Works (RMW) announced loss of Rs (-91.11) crore for Q3-2014, which was less than half (46.6 per cent) of the loss of Rs (-195.25) crore in the immediate trailing quarter (Q2-2014). Q3-2014 loss was however 2.13 per cent higher than the Rs (-89.21) crore in Q3-2013.

     

    The company reported (-12.82) per cent drop in operating revenue in Q3-2014 to Rs 111.71 crore from Rs 128.13 crore in Q2-2014 and (-15.17) per cent lower than the Rs 131.68 crore in the corresponding quarter of last year.

     

    Notes: (1) The board of directors of the company in its meeting on 11 August 2013 has extended the financial year of the company to March 2014 which has been accepted by the Registrar of Companies. Accordingly the financial statements of the company will be drawn for 18 month period ended 31 March 2014. Hence the various quarter have been referred to as SQ (September Quarter) and (JQ) June Quarter of the respective calendar year (not financial year, since this has been changed once again by the company).

     

    (2) Notes of the attached financial statement must be read along with this analysis.

     

    (3) RMW’s net worth has eroded, however, having regard to revenue visibility of new businesses in film and media services, improved operational performance of exhibition business, financial support from its promoters, further restructuring exercise being implemented etc., the financial statements have been prepared on the basis that the company is a going concern and that no adjustments are required to the carrying value of assets and liabilities. The auditors of the company had put matter of emphasis on the aforesaid matter in the limited review report for the quarter/fifteen month period ended December 31, 2013 and the same remarks were also included in the Auditors report for the eighteen month period ended September 30, 2012.

     

    Let us look at the other results reported by RMW in Q3-2014

     

    Total revenue in the current quarter at Rs 116.52 crore fell by (-12) per cent from Rs 132.21 crore in the immediate trailing quarter and fell by (-14.27) per cent from Rs 135.91 crore in Q3-2013.

     

    Total expense for Q3-2014 at Rs 143.24 crore was (-11.92) per cent less than the Rs 154.09 crore in Q2-2014 and (-13.55) per cent less than the Rs 165.69 crore during the corresponding quarter of last fiscal.

     

    Two main segments contribute to RMW’s revenue: Film Production Services; and Theatrical Exhibition and Film Production and Services (Theatrical).

     

    Film Production revenue at Rs 15.45 crore was (-19.85) per cent lower than the Rs 19.26 crore during Q2-2014 and (-21.59) per cent lower than the Rs 19.69 crore in Q3-2013. This segment returned negative result of Rs (-9.52) crore which was 27.98 per cent more than the Rs (-7.44) crore in Q2-2014 and (-7.21) per cent lower than the Rs (-10.26) crore in Q3-2013.

     

    RMW’s Theatrical segment also saw a fall in revenues of (-11.46) per cent in Q3-2014 to Rs 100.18 crore from Rs 113.15 crore in Q2-2014 and fell by (-11.89) per cent from Rs 113.70 crore in Q3-2013. This segment returned negative result of Rs (-11.30) crore in Q3-2014 as compared to the Rs (-11.34) crore in Q2-2014 and Rs (-17.72) crore in Q3-2014.

     

    RMW’s finance cost at Rs 64 crore was (-14.39) per cent lower than the Rs 73.21 crore in Q2-2014 and (-3.78) per cent lower than the Rs 66.51 crore in Q3-2013.

     

    Click here for full report