Adlabs Films rechristened Reliance MediaWorks

Anil Ambani Group firm Adlabs Films today said it has changed its name to Reliance MediaWorks as the new name accurately reflects its identity as a diversified film and media services company.

"The company's name has changed to Reliance MediaWorks effective from October 5, 2009. It has received the certificate from the Registrar of Companies, Maharashtra," Adlabs Films said in a filing to the Bombay Stock Exchange.     

The original name of Adlabs Films was reflective of the company's initial business as a film processing laboratory.     

"The name Reliance MediaWorks more accurately reflects our identity as a diversified film and media services company with a global presence, and enables us to draw upon the international recognition of the Reliance ADAG brand," the company's Chief Executive Officer Anil Arjun said.

After the acquisition of controlling stake in Adlabs in 2005 by Reliance ADA Group, the company saw transformational growth in the scale of its operations.     

The group's financial strength and management expertise have acted as a catalyst in expanding Adlabs' leadership across various inter-related businesses of exhibition, film and media services and television software. Adlabs' operations include a wholly-owned facility in Los Angeles in the US.     

Shares of Adlabs were trading at Rs 346.50, down 0.99 per cent in the late afternoon trade on the BSE.