George Soros Bets On Bollywood
Iconic financier George Soros has paid $100 million for a stake in Indian movies, gaming and Internet conglom Reliance Entertainment.
He is picking up a 3% stake in the privately held operation controlled by the billionaire industrialist Anil Dirubhai Ambani's Reliance ADAG. Deal values Reliance Entertainment at some $3.3 billion, making it the most valuable entertainment company in the fast-developing territory.
Reliance Entertainment controls the Adlabs group, which is India's biggest film processor, and in recent years has diversified to become a front-running movie production and theater operation.