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Tag: Reliance MediaWorks

  • Amit Gupta promoted at Warner Bros Discovery as sr director, APAC ancillary & Hyderabad content operations

    Amit Gupta promoted at Warner Bros Discovery as sr director, APAC ancillary & Hyderabad content operations

    MUMBAI:  Amit Gupta has stepped into a new adventure as senior director – APAC ancillary and Hyderabad content operations at Warner Bros Discovery, adding another star-studded chapter to his 25-year career in the media and entertainment industry.

    Gupta, who previously served as director – program operations for South Asia at the same company, has been a master of content logistics and operations. From running the show for kids and English movie channels at Turner to leading creative services and broadcast post at Prime Focus Technologies, he has been the backstage wizard keeping the content flowing.

    Before joining Warner Bros. Discovery, Gupta sharpened his craft at Reliance MediaWorks as AVP – technical and operations, and earlier at Sony Entertainment Television, where he steered the post-production department. He even donned the hat of a senior video editor at Applause Entertainment and freelanced as an online video editor, giving him a deep understanding of the creative and operational sides of the business.

    In his new role, Gupta will oversee APAC’s ancillary operations and lead the Hyderabad content hub, playing a critical role in delivering Warner Bros Discovery’s magic across the region. With a career that’s a mix of big names and bigger responsibilities, Gupta’s latest gig is set to be another hit on his list.

  • Carnival Cinemas targets 1000 screens by 2016; to foray into film production & distribution

    Carnival Cinemas targets 1000 screens by 2016; to foray into film production & distribution

    MUMBAI: Carnival Cinemas, which has taken the acquisitions route to spread its footprints across the country, is eyeing a total screen count of 1000 by 2016. The multiplex chain currently operates 300 screens in over 82 cities and is looking to pump in a sum of Rs 800 – 900 crore to reach the 1000 screen milestone.

     

    What’s more, sources close to the development inform Indiantelevision.com that Carnival Cinemas is also aggressively making in-roads in film production and distribution. The group has already started working on three South Indian film projects and has aspirations of making their first Bollywood movie in next three – six months. However, while the company is in talks with several directors, it is yet to zero in on its first commercial script.

     

    Carnival Cinemas has roped in Ssarita Singh as business head of its motion pictures division to spearhead the production initiatives.

     

    The Shrikant Bakshi owned Carnival Cinemas recently acquired the multiplex business of Housing Development and Infrastructure Ltd (HDIL) for a little over Rs 100 crore. It has also lapped up Big Cinemas multiplex chain from Anil Ambani’s Reliance MediaWorks for approximately Rs 700 crore. The chain also pocketed Star Gaze’s Glitz Cinemas from Mukesh Ambani-controlled Network 18 Media and Investments Ltd.

  • Reliance Mediaworks completes sale of multiplex biz to Carnival

    Reliance Mediaworks completes sale of multiplex biz to Carnival

    MUMBAI: Reliance MediaWorks (RMW), a part of Reliance Group, has completed the transaction for sale of its multiplexes business to Carnival Cinemas Ltd.

     

    Reliance MediaWorks’ multiplex chain Big Cinemas had approximately 250 screens across the country.

     

    The entire proceeds for the sale of multiplex business have been duly received by RMW from Carnival Cinemas, and will be used to reduce Reliance Capital’s leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds. 

     

    Reliance Capital executive director Sam Ghosh said, “We are happy to announce closing of this transaction with Carnival Group, which will reduce our overall leverage by approx. Rs 700 crore. This will lower our debt equity ratio to a conservative 1.75:1, amongst the lowest in the financial services sector in India.”

     

    “The transaction is in furtherance of Reliance Capital’s stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt,” he added.

     

    RMW had sold its multiplex business to Carnival Cinemas in December last year, and the transaction has now been closed upon receipt of all approvals. The deal excludes real estate owned by RMW at Imax Wadala and other properties, which are intended to be separately monetized for an approximate value of Rs 200 crore.

  • Prime Focus raises Rs 240 crore; completes RMW transaction

    Prime Focus raises Rs 240 crore; completes RMW transaction

    MUMBAI: Prime Focus has raised Rs 240 crore by way of issue of equity shares worth Rs 120 crore each to Monsoon Studio Private and Reliance MediaWorks (RMW), at Rs 52 per share, on percent basis.

     

    As part of the transaction, the India and overseas operations of RMW’s film and media services business was combined with Prime Focus through a slump sale. The net consideration was paid in the form of fresh equity shares of PFL valued at Rs 52 per share.

     

    With this, Prime Focus has completed the transaction to combine with RMW’s global film and media services business. The transaction was first announced in July 2014 and received approval from the Competition Commission of India (CCI) on 15 December, 2014.

     

    The promoters of PFL and RMW had earlier announced the mandatory open offer in Prime Focus, to the extent of 26 per cent of the fully diluted share capital of PFL, at Rs 52 per share, in compliance with applicable SEBI rules and regulations. The open offer closed on 16 January, 2015.

     

    The tryst with RMW was announced close on the heels of Prime Focus’ Hollywood facing creative services subsidiary Prime Focus World merging its VFX business with acclaimed VFX house Double Negative. The combination of RMW – PFL and Academy Award winning Double Negative creates the world’s largest and the most integrated media services group with over 5500 people present across 20 locations offering visual effects, stereo 3D conversion, animation, and cloud-based digital media solutions that transcend the film, advertising and television industries.

     

    Prime Focus and Double Negative are currently working on a action-packed slate of upcoming movies, including Avengers: Age of Ultron, Terminator: Genisys, Ant-Man, Alice in Wonderland: Through the Looking Glass, Mission Impossible 5, The Hunger Games: Mockingjay Part 2 and Batman v Superman: Dawn of Justice. Recently delivered shows include Kingsman: The Secret Service, Ex Machina, Jupiter Ascending, Seventh Son and In The Heart Of The Sea.

     

    “We have completed the last leg of a protracted but path breaking transaction today. From here on our full focus will be to drive the integration process and unlock synergies for the benefit of our customers, employees and stakeholders worldwide. Today we are best positioned to offer outstanding creativity, cutting edge technology, integrated Digital Media Services, never before scale, financial robustness and sustainability,” said Prime Focus founder, executive chairman and global CEO Namit Malhotra. 

     

  • Carnival gets the green signal to acquire Big Cinemas

    Carnival gets the green signal to acquire Big Cinemas

    NEW DELHI: The acquisition by the Carnival Group of the Big Cinemas chain owned by Anil Ambani’s Reliance MediaWorks has been cleared by the Competition Commission of India (CCI).

     

    It is learnt that the South India-based Carnival Group had offered $112 million for Big Cinemas in December 2014. 

     

    In January this year, Carnival also acquired Stargaze Entertainment’s cinemas. The company now has a total of 330 screens, making Carnival India’s third largest multiplex operator. The Inox group has 361 screens while market leader PVR has 454.
     

    The proposed transaction will reduce Reliance Capital’s overall debt by Rs 700 crore and is part of Reliance Capital’s strategy to exit minority investments.

    CCI said in its order that “the proposed combination is not likely to have an appreciable adverse effect on competition in India.”

    Under the agreement executed on 14 December, 2014, the film exhibition business of Reliance MediaWorks along with the food and beverages business, which is a part of the film exhibition business (but excluding all forms of film exhibition through Internet, mobile or television of Reliance MediaWorks), would be transferred to Cinema Ventures Private Ltd (CVPL) – a subsidiary of Reliance MediaWorks.
     

    As many as 88 cinemas (72 multiplexes and 16 single screen cinemas) operated by Reliance MediaWorks having 238 screens are proposed to be transferred by Reliance MediaWorks to CVPL.
     

    Following this, Carnival will acquire 98 per cent stake in CVPL whereas a director of Carnival will acquire the remaining two per cent shareholding.
     

    “It is noted that pursuant to the proposed combination, there are overlaps between Carnival, Stargaze and Reliance MediaWorks with respect to the multiplexes in seven cities namely Indore, Mumbai, Dindigul, Ghaziabad, Dehradun, Raipur and Ajmer,” the order said.
     

    However, CCI observed that in Indore, Mumbai, Ghaziabad, Dehradun, Raipur and Ajmer, “competition concerns may not arise as there are other multiplexes in these cities exercising competitive constraint on the acquirer pursuant to the proposed combination in terms of the pricing and services offered within the cinemas.”
     

    In the case of Dindigul, it was stated that “it is unlikely that the combination would result in increase in prices or would have an adverse impact on the amenities provided to the consumers in Dindigul.”
     

    The deal struck between Carnival Cinemas and Reliance MediaWorks will exclude Imax Wadala (Mumbai) and some other properties worth Rs 200 crore.
     

    Reliance Capital is the parent firm of Reliance MediaWorks, which operates one of the largest cinema chains, under the brand BIG Cinemas.

  • Rentrak inks deal with India’s Carnival Cinemas for box office measurement

    Rentrak inks deal with India’s Carnival Cinemas for box office measurement

    MUMBAI: Box office measurement body Rentrak is slowly expanding its footprint in India, where until now box office numbers haven’t had a systematic tracking system. Rentrak, which recently inked a deal with India’s Cinepolis multiplex chain, has now joined hands with the Mumbai based Carnival Cinemas. 

     

    Rentrak will implement its box office reporting system across Carinval Cinemas properties.

     

    Carnival Cinemas with 300 screens currently ranks as India’s third-largest exhibition chain after PVR and Inox. The company plans to increase its screen count to more than 1,000 screens across India by 2017, including theaters in small cities throughout South India.

     

    It may be recalled that last year Carnival Cinemas acquired Big Cinemas, which was the multiplex business of Reliance Mediaworks.

     

    “We are excited to expand our measurement in India and work with Carnival Cinemas as they continue to become one of the top players in the market. Rentrak is committed to expanding our box office measurement throughout India to help their film production be more transparent,” said Rentrak president of global movie services Ron Giambra.

     

    “We are delighted to partner with Rentrak, the global leaders in box office measurement to herald an era of precise box office information in the Indian movie industry. Carnival, while striving to provide the best possible movie watching experience to its viewers, also strives to uphold the global best practices in all aspects of film exhibition. I am sure that our synergy will add value to the industry as a whole,” added Carnival CEO Group P.V Sunil.

     

    Rentrak has been measuring box office receipts in India since October 2014. The first film it tracked was Rajkumar Hirani and Aamir Khan’s PK, which recently became the country’s highest-grossing film of all time.

  • ‘PK’ wins big at the Renault Star Guild Awards 2015

    ‘PK’ wins big at the Renault Star Guild Awards 2015

    MUMBAI: Held at Reliance MediaWorks, the Renault Star Guild Awards 2015 announced the winners in film and television for the year 2014. The night was hosted by Kapil Sharma, who entertained the audience with his quick wit and rib-tickling humor.

     

    ‘PK’ won best film along with best director, best dialogue, best sound mixing and a special award for the more than 100 crore film. Shahid Kapoor won for best actor for his performance in ‘Haider’ while Priyanka Chopra walked away with the award for best actress in ‘Mary Kom’.

     

    Superstars like Amitabh Bachchan, Priyanka Chopra, Alia Bhatt, Jacqueline Fernandes and Shahid Kapoor set the stage on fire with their magical performances.

     

    Rakesh Roshan received the lifetime achievement award that was presented to him by Jeetendra and Hrithik Roshan. Deepika Padukone walked away with the entertainer of the year award and Alia Bhatt won the Gionee most stylish youth icon award. The Star Plus shining superstar award went to Shraddha Kapoor.

     

    Renault India country CEO and managing director Sumit Sawhney said, “Renault India is happy to work together with the Guild and we are elated to celebrate the accomplishments of the Indian Cinema & Television industry. At Renault, we understand what it takes to think ahead, to win hearts of the audience and also win accolades from a proficient jury. We have always believed, both the Guild and Renault lay special emphasis on Driving the Change and are therefore a perfect fit with each other.”

    Talking about the awards, Star India COO Sanjay Gupta said, “Television and cinema are the two cornerstones of our entertainment ecosystem. Star Guild Awards are extremely prestigious as they are based on peer recognition by members of the Guild. We are delighted to host them once again and our viewers can look forward to an entertaining night on TV.”

     

    Gionee Smartphones India head Arvind Vohra said, “Cinema is one of the most important parts of our culture. It is one of the Passion Points which we as a brand want to get associated with because our consumers connect with it. SGA is one of the platforms which is created by the Film industry and recognizes the efforts of the industry across categories and functions. We at Gionee are honored to be a part of SGA in recognizing and appreciating the efforts of the film industry for adding entertainment, style and glamour to the consumer’s life.”

     

    Wizcraft International Entertainment director Sabbas Joseph said, “It gives us immense pride to partner with the Guild and celebrate the success of the best contributions to Indian Cinema & television.”

     

    The Renault Star Guild Awards 2015 co- powered by Gionee Smartphones and Ola Cabs will telecast on 18th January on Star Plus at 8pm.

     

    List of Awards & Winners

     

    Special Awards
     

    Lifetimes Achievement Award- Rakesh Roshan

    Films who made more than 100 Crore- Bang Bang, Ek Villian, Happy New Year, Holiday, Jai Ho, Kick, PK, Singham Returns & 2 states

    The Guild Presidents Awards- Highway , Mary Kom

    Gionee Most Stylish Youth Icon- Alia Bhatt

    Bajate Raho Dialogue of the Year by RED FM- Mary Kom

    AK ABAAS award for social consciousness in Cinema- Citylights

    Star Plus Shining Superstar Award- Shraddha Kapoor

    Hindustan Times Celebrity for a cause- Priyanka Chopra

     

    Click here for winners list

  • Network18 enters into an agreement with Carnival Cinemas

    Network18 enters into an agreement with Carnival Cinemas

    MUMBAI: Multiplex chain Carnival Cinemas after having a great 2014 has set the right tune for the new year. While it was in December 2014 when Reliance MediaWorks (RMW) sold its multiplex business to Carnival Cinemas, 2015 has begun with Network 18 Media & Investments entering into an agreement with the multiplex chain. 

    The agreement has been done through Network 18’s venture capital arm, Capital18 Fincap. Network18 with this will divest its entire stake in Stargaze Entertainment, which operates multiplexes in emerging urban centers of India under the brand name ‘Glitz Cinemas.’ 

    Capital 18 is a majority shareholder at Stargaze and the transaction, expected to be completed within the current financial year, will result in a profitable exit for Capital18.

    It can be noted that the proposed transaction with Reliance MediaWorks had placed Carnival amongst the top three multiplex operators in the country, with over 300 screens nationwide.
    The agreement with Network 18 is yet another move by Carnival Cinemas to reach its target of 1,000 screens by 2017. 

  • Reliance MediaWorks sells multiplex business to Carnival Cinemas

    Reliance MediaWorks sells multiplex business to Carnival Cinemas

    MUMBAI: Reliance MediaWorks (RMW) and Carnival Cinemas have announced the signing of definitive agreements for sale of RMW’s multiplexes business to Carnival Cinemas in the largest ever deal in the sector in India.

    The proposed transaction will catapult Carnival to the ranks of the top three multiplex operators in the country, with over 300 screens nationwide, and set the company firmly on its path to achieve leadership in the business.

    Carnival Group chairman Shrikant Bhasi said, “I am thankful to Reliance Group chairman Anil D. Ambani for his support to a first generation entrepreneur like me, and in facilitating this transaction with Carnival Cinemas in preference to other leading cinema chains. We are targeting to achieve 1,000 screens by the year 2017, and look forward to the continued support of Reliance Group in our future growth.”

    Reliance Capital CEO Sam Ghosh added, “We are delighted to begin a long term relationship with the rapidly growing Carnival Group, through the sale of the multiplexes business of Reliance MediaWorks to them. We look forward to supporting the Group in their future growth initiatives in India and overseas.”

    “The proposed transaction is in furtherance of Reliance Capital’s stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt,” added Ghosh.

    The transaction will reduce Reliance Capital’s leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds.

    The deal excludes real estate owned by RMW at IMAX Wadala and other properties, which are intended to be separately monetised for an approximate value of Rs 200 crore.

    Reliance Capital will have the option to acquire a pre IPO minority stake in Carnival Cinemas at an appropriate discount, upon eventual listing of the Company.

    “We are very serious about exhibition business and are moving in an organic way also. Carnival Cinemas will not only make their presence in tier I but would lay emphasis for strong presence across tier II & III cities. We want to make Cinemas synonymous to Carnival” added Bhasi.

    The proposed transaction is subject to necessary statutory and other approvals and is expected to be closed within the current financial year.

     EY are deal advisors to Reliance Group, and KPMG are acting as deal advisors for Carnival Group.

     

  • TV industry gears for 13th Indian Telly Awards

    TV industry gears for 13th Indian Telly Awards

    MUMBAI: The night of glitz and glamour is all set to roll out tonight. Amidst high octane performance, the ground event for the 13th Indian Telly Awards will be held today at the Reliance MediaWorks in Filmcity, Goregaon.   

     

    The awards will see the introduction of new categories, special awards and extremely entertaining and power packed performances.

     

    This time around, the jury process has been redefined and is encouraging more and more involvement from industry insiders to be part of the group that decides the worthy winners. Which means that not only noted veterans and established television professionals, but also channels and production houses will be involved in the intrinsic and exhaustive judging system.

     

    TV’s best will be revered as some of the favourite stars put up some stunning performances.

     

    To know about the performers, watch the exclusive telecast on Colors soon.