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Pentamedia goes in for business restructuring

02-February-2004
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Pentamedia goes in for business restructuring

Pentamedia Graphics Ltd has decided to restructure its business, putting all the production-related activities of itself and its subsidiaries into one of its subsidiaries, Mayajaal Entertainment Ltd. After this, Pentamedia Graphics will do only marketing and distribution of entertainment products. The company will not only market the products made by Mayajaal Entertainment, but also the products of third companies.

At present, Pentamedia Graphics has two lines of activities. One is production of animated films. The other is Num TV, an Internet television, where subscribers can watch movies through the Internet. Apart from this, Pentamedia Graphics also has a plant that makes compact discs (CD-Rom).

Pentamedia has four subsidiaries: Media Dreams Ltd, which produces live action feature films, Intelivision, which runs the children's TV channel `Splash', Kris Srikkant Sports Entertainment Ltd, which produces sports entertainment features, and Mayajaal Entertainment Ltd, which runs a theatre complex near Chennai.

Now, according to the restructure plan, all these activities (of both Pentamedia Graphics as well as its subsidiaries) will be brought under Mayajaal Entertainment Ltd.

In a communication to the BSE, Pentamedia Graphics has said that the shareholders of the company would receive shares in Mayajaal Entertainment. The shares of Mayajaal would be listed on the stock exchanges.

All the distribution, marketing and retailing activities of contents globally will be pursued by Pentamedia Graphics, which will also hire its infrastructure for various media-related activities, the communication says. Pentamedia Graphics would also hold the majority stake in Mayajaal Entertainment.

After the restructure, the shares of Pentamedia Graphics would go in for a stock-split. The company's shares would be converted into shares of Re 1 each.

In 2002-03, Pentamedia Graphics achieved turnover of Rs 248.96 crore and a net profit of Rs 37.80 crore. The turnover of Media Dreams was around Rs 15 crore and that of Mayajaal, around Rs 5 crore.

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