Options open on listing of Reliance Entertainment: Anil Ambani
Press Trust of India / New York Jul 15, 2009, 21:15 IST
Industrialist Anil Ambani today hinted at listing his group's media and entertainment business Reliance Entertainment, which has entered into a partnership with Hollywood studio DreamWorks for film production.
"We are making a beginning now. All options are open. We will evaluate the options as we go along," Anil Ambani said to a question on whether the Hollywood debut was a preamble to taking the business public.
Ambani, who was addressing reporters through a conference call after a meeting with Steven Spielberg and Stacey Snider, has promised an initial funding of $825 million or Rs 4,000 crore to the venture, which would eventually make 5-6 films per year.
The partnership is a 50:50 venture between Ambani and Speilberg and Snider. Ambani has nominated his top lieutenant Amitabh Jhunjhunwala on the board.
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