Pentamedia board for major business restructuring
By siliconindia staff writer   |   Wednesday, 04 February 2004, 20:30 IST
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CHENNAI: The board of Pentamedia Graphics has approved a major business restructuring proposal. Under the plan, almost all of Pentamedia’s business activities, as well as that of subsidiaries, will be brought under the fold of closely held firm Mayajaal. Plans also include listing Mayajaal on the stock exchange. Pentamedia has informed BSE that the recast envisages aligning and re-grouping the firm’s business activities and those of its fully-owned subsidiaries. This is aimed at achieving greater internal synergies and consolidation in various segments of the company’s entertainment business. It is expected to lead to a greater value creation for the shareholders and unlock the true intrinsic value of the shares of the company. Among the subsidiaries, Media Dreams is engaged in producing film and teleserials, in television, providing children’s entertainment through its “Splash” channel and Kris Srikkanth in content creation relating to sports entertainment. These three arms will be merged into Mayajaal, which is offering wholesome family entertainment at its sprawling facilities near Chennai. Also, the production and content creation activities of Pentamedia through its animation ( 3D, 2D) and Num TV division (internet TV) will be demerged and merged with Mayajaal.