Adlabs Films - RGV strike deal 
By IndiaFM News Bureau, October 8, 2005 - 03:10 IST
Anil Ambani’s Adlabs Films and director Ram Gopal Varma have struck a deal to produce and market entertainment projects. Acclaimed filmmaker Varma will bring in his technical knowledge while Adlabs will provide the finances. The budget in the first phase itself is a whopping Rs.100 crore. Through this tie-up, they want to venture into film production, distribution, an audio company, television channel and an entertainment
magazine. The formal paperwork will be completed soon. By the end of next year, 20 feature films will be ready in various languages including Tamil and Telugu.
Last year Varma Corporations had also struck a deal with K Sera Sera Productions. Five feature films were produced in 2004 as part of this deal. But the Adlabs - Varma deal is on a much larger scale. Anil Ambani bought a 51% stake in Adlabs for Rs.350 crore in June.
Adlabs is also in the news because film maker Karan Johar has been appointed as an additional director in the company. Manmohan Shetty will continue to be the chairman. The additions in the board come as a result of the acquisition of the management control of Adlabs Films by the Anil Dhirubhai Ambani Enterprises group.
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