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Reliance Entertainment gets $100 million by selling 3% of its stake to George Soros

Reliance Entertainment, which owns an online gaming portal Zapak.com, a social network site BigAdda.com, and a movie rental venture BigFlick.com, has received $100 million (Rs 400 crore) from celebrity investor George Soros who has acquired 3 per cent stake in the company. The stake sale puts the value of Reliance Entertainment at around $3 billion (approximately Rs 12,000 crore).

Reliance Entertainment, which owns an online gaming portal Zapak.com, a social network site BigAdda.com, and a movie rental venture BigFlick.com, has received $100 million (Rs 400 crore) from celebrity investor George Soros who has acquired 3 per cent stake in the company. The stake sale puts the value of Reliance Entertainment at around $3 billion (approximately Rs 12,000 crore).

Reliance Entertainment is the umbrella entertainment company of Reliance Anil Dhirubhai Ambani Group and is 100 per cent owned by Anil Ambani. Besides internet and new media, the company operates in FM radio, film entertainment and TV broadcasting business. (Source: Business Standard)

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