Adlabs Films Ltd said on Thursday it planned to buy a majority stake in New Delhi-based Synergy Communications Pvt Ltd to expand in the television content business.
MUMBAI: Adlabs Films Ltd said on Thursday it planned to buy a majority stake in New Delhi-based Synergy Communications Pvt Ltd to expand in the television content business.
Synergy is a producer of quiz shows and programmes like Kaun Banega Crorepati that had a format similar to the international classic Who Wants to Be A Millionaire.
Adlabs chief financial officer V Devarajan said the acquisition of Synergy, run by quiz master Siddhartha Basu would be completed in two months.
“We are ramping up the numbers in the content space... TV is a significant revenue generator in the content space,” he said.
Adlabs shares rose 1.9 percent at Rs 338.30 in a weak Mumbai market.