INDIA BUSINESS WORLD - FEBRUARY 1st - FEBRUARY 15th - 2008
SOROS INVESTS IN RELIANCE ENTERTAINMENT
Billionaire George Soros has bought a 3% stake in Reliance Entertainment, Anil Ambani’s films-to-mobile gaming company, for $100 million. The money will be used to expand the company’s presence in these segments and also produce movies that have been signed with directors such as Farhan Akhtar, Madhur Bhandarkar and Vivek Agnihotri. The deal values Reliance Entertainment at about $3 billion.
Reliance Entertainment produces and distributes movies, provides gaming services and runs a social networking portal. It also operates a growing home video and music business. Group company Adlabs runs multiplexes and FM radio stations across the country. Reliance is already a leading player in the movie business and recently bought out ND Studios.
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