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Reliance MediaWorks fails to get consent of all lenders on its restructuring initiative

Reliance MediaWorks Ltd. has failed to obtain the consent of all its lenders to restructure its businesses into separate subsidiary companies. This is critical for the company for it to be able to receive INR6.05 billion in PE investments and extricate itself from the financial mess (caused by its crippling losses and high indebtedness) in which it is in.1

Saregama to exit film production; aggressively enter TV serials

Saregama India is likely to emerge with a new brand identity and strategy. The company is planning to aggressively enter the TV soap opera segment and exit from its film production business. Its restructuring exercise, with an emphasis on the digital space, will focus on the mobile and other segments, including an e-Commerce portal model. It is also looking for a new CEO, who will take charge of its new growth plans.2

 


1 “Reliance MediaWorks fails to get consent of all lenders for restructuring,” Indiantelevision, 23 August 2012, via Factiva

2“Saregama to exit film production, aggressively enter TV serials,” Business Standard, 17 August 2012, via Factiva

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