Reliance MediaWorks rejigs biz, appoints segments heads

Rejigging its business under two divisions -- Film and Media Services and Exhibition, Reliance MediaWorks today announced the appointment of Venkatesh Roddam and Ashok Ganapathy as the segment heads, while CEO Anil Arjun has stepped down from his post.

Arjun, however, will continue with the company as a strategic advisor.
Venkatesh Roddam and Ashok Ganapathy have been appointed as CEOs in the Film and Media Services and Exhibition divisions, respectively.

"The appointments will enhance the independent focus on each operating division and thereby enhance revenues and profitability," Reliance MediaWorks (RMW) said in a filing to the BSE.

The film and entertainment company has operations across India, the US, the UK and Malaysia.

RMW had recently announced signing of a pact with an international private equity firm for a funding of Rs 605 crore for its film and media services division.

It has also filed documents with SEBI for raising up to Rs 600 crore by way of rights issue to existing equity shareholders to "substantially reduce the debt".
RMW undertakes work like motion picture processing, audio restoration and image enhancement, 3D and digital mastering, among others.

The company also operates BIG Cinemas, which has with over 490 screens across India, the US, Malaysia and Nepal as well as a television joint venture, BIG Synergy.