New Delhi: The Anil Dhirubhai Ambani Group owned Adlabs Films has made its entry into the Rs 15,000-crore Indian television business.
In a notice issued to BSE, the company said on Thursday that Synergy is a producer of quiz shows and programmes like the popular Kaun Banega Crorepati that had a format similar to the international classic Who Wants to Be A Millionaire?
Adlabs chief financial officer V Devarajan said the acquisition of Synergy, run by well-known quiz master Siddharth Basu, would be completed in two months.
"We are ramping up the numbers in the content space. TV is a significant revenue generator in the content space," he said.
In the past, Synergy has produced shows like Kaun Banega Crorepati and Mastermind India for broadcasters like Star and BBC.
Currently, it’s making a reality show titled Jhalak Dikhla Ja -for Sony. We hear that this big budget adaptation of the ABC show Dancing with the Stars may have prompted Synergy to look for buyers before the show launches on Thursday.
The new move may mark Adlabs' first direct investment in the TV production business.
On Tuesday, the Adlabs stock hit a 3-month high, up about 8.5 per cent at Rs 331.
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