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MUMBAI: Anil Ambani's Reliance ADAG is in negotiations to
buy out Anirights Infomedia, an animation company based out
of Bangalore.
The discussions are being led by Reliance Entertainment president
Rajesh Sawhney, a source close to the company says. Adlabs
Films' animation division is not engaged in the talks, he
adds.
Anirights was involved in the award-winning CG-animated short
film, The Bad Egg. The company is also making Little
Krishna TV series and a movie on the same theme.
When contacted, Sawhney declined to comment. Sources, however,
say a senior team had visited the studio at Bangalore.
Anirights founder and CEO Ashish Kulkarni said his company
was in talks with 4-5 companies including private equity funds
and a broadcaster. "We can't disclose any specific details
at this stage. If we get equity investors, it would help us
in building IP-driven animation content creation and scaling
up," he added.
Anirights plans to start work on Little Krishna in
December and the movie would cost Rs 100-120 million. "In
the services model, we are not under pressure to raise funds.
But there is opportunity to grow bigger and we would require
funding for that. We are keen to get into the IP creation
business," said Kulkarni.
Ambani has shown interest in the animation business and started
a division under Adlabs. A 3D animated feature film Superstar
(modelled on actor Rajinikanth) is being co-produced and
is set for release in 2008. Adlabs has also joined hands with
Kid’s apparel giant Gini & Jony to produce an animated
feature film based on these characters.
Reliance ADAG has launched a gaming portal, zapak.com, as
part of its entertainment strategy and plans to invest $100
million in the venture over three years.
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