Adlabs Films Completes Process Of Acquiring Majority Stake In Synergy Communications

Adlabs Films Ltd has announced that the Company has completed the process of acquiring a controlling stake in Synergy Communications, the premier television content Company headed by Siddhartha Basu. The new entity will be called Synergy Adlabs Ltd. subject to regulatory approval.The Company strategy and business operations would be led by Siddhartha Basu, Chairman andManaging Director. The Synergy Adlabs Board consisting of Siddhartha and Anita Kaul Basu, has been strengthened by the addition of: Pooja Shetty, Whotetime Director Adlabs Films, Anil Arjun, Senior Vice President Reliance Capital and Venkat Devarajan, CFO, Adlabs Films. The valuation is subject of confidentiality provisions.Synergy Adlabs is envisaged to contribute sizeable revenues to the overall revenue pie of Adlabs Films by March 2008. The intention is to enhance Synergys production operations and scale up content to include high-quality popular fiction, youth-based shows, non-fiction content (including reality and lifestyle shows) and international content.Synergy Communications, headed by Siddhartha Basu, a leading personality in the television and content space for several years, has done over 30 televised series and produced over 2000 hours of content. The Company has produced other several popular shows like Jhalak Dikkhla Jaa, Indias Child Genius, Mastermind India, Mum Tum Aur Hum, Kamzor Kadi Kaun, University Challenge, Jaane Kya Tune Kahi and Aao Guess Karen. In addition Synergy has organized live shows like the Channel (V) Awards 97-98 and several quizzes. Currently they also have Bluff Master, a unique gameshow on Star One on air. Kaun Banega Crorepati, the much-awaited popular gameshow being hosted by Shahrukh Khan, premiering on Star Plus on January 22nd will be a Synergy Adlabs production.