Anil Ambani-owned Adlabs Films has signed a Letter of Intent (LoI) with Synergy Communications Pvt Ltd to acquire a majority stake in the production house, the company informed the Bombay Stock Exchange.
The unlisted company, promoted by quizmaster Siddhartha Basu, hit big time success on the small screen with ‘Kaun Banega Crorepati’ on STAR Plus. At present, Synergy Communications is producing the dance show ‘Jhalak Dikhla Jaa’ on Sony.
R-ADAG, the Anil Ambani controlled Reliance entity, has already made much noise about its big plans in the entertainment and media industry.
The Group has won 45 FM radio licenses across the country. As reported by exchange4media earlier, Reliance Entertainment is investing $100 million to create online gaming portals and cafes across India. Its DTH platform, Reliance Blue Magic, is also scheduled to be launched next year.
The big game: Reliance Entertainment to invest $100 m in gaming business, first portals by Diwali