Reliance MediaWorks today said its board has approved transfer of the company's cinema exhibition, and film and media services into separate 100% subsidiaries.
"The subsidiarisation step is a precursor to invite strategic and private equity investors who have expressed a keen interest in investing in specific businesses," Reliance MediaWorks said in a statement.
The proposal, which is subject to shareholders' approval, will position the company to pursue strategic growth opportunities in its specific businesses and enable it to enhance revenues and profitability, and expand products and services, it added.
In the exhibition space, Reliance MediaWorks operates over 530 screens in India, the USA, Malaysia and Nepal under Big Cinemas brand. The film and media services business includes digital post production facilities for feature films, broadcast shows and television commercials.
It also includes a studio in Mumbai, Media BOP which offers content processing, image enhancement and restoration services among others.
Big Synergy, a television production company in which Reliance MediaWorks has 50% stake will continue to be a part of RMW.
