Adlabs Films renamed as Reliance MediaWorks

By afaqs! news bureau , afaqs!, Mumbai | In Media | October 08, 2009
According to company executives, the change of name reflects the company's transformational evolution, in continuance with Reliance ADA Group acquiring a controlling stake in 2005

Film and media services company, Adlabs Films (Adlabs), part of the Reliance ADA Group, has undergone a rechristening -- the company's name has changed to Reliance MediaWorks, effective from October 05, 2009. The company's board of directors decided to change the name, as Adlabs Films was reflective of the company's initial business as a film processing laboratory.

This move comes after the Reliance ADA Group acquired the controlling stake in Adlabs Films in 2005. When asked why the entity took so long to undergo a name change and integrate itself into the mother brand, a company spokesperson tells afaqs! that till a year or two ago, Adlabs Films was known predominantly for its processing lab business. The company was waiting to expand its portfolio, and as it acquired Big Synergy and forayed into the digital cinema space, the timing was right to rename it.

According to a press statement, "Reliance ADA Group's financial strength and management expertise acted as a catalyst in expanding the company's leadership across various inter-related businesses of exhibition, film and media services, and television software."

Remarking about the development, Anil Arjun, chief executive officer, Reliance MediaWorks, says in an official communiqué, "The name, Reliance MediaWorks Limited, 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 Anil Dhirubhai Ambani Group brand."

For the record, the company has a presence in the film exhibition business in India and internationally, and has entered new segments of the film production value chain, including digital post-production, digital cinema mastering, studios/shooting floors, film and TV equipment rentals, visual effects and image enhancement, film restoration BPO and other value added services. The company also has a television programming venture, Big Synergy. Reliance MediaWorks operates Big Cinemas with 468 screens spread across India, US, Malaysia and the Netherlands.

© 2009 afaqs!