Vistas Media Capital, a media content and technology company based in Singapore, is all set to acquire Reliance Entertainment. The deal is reportedly valued at Rs. 700-800 crore.
In 2020, VMC had invested $5 million in Planet Marathi, acquiring strategic equity in the Marathi OTT platform. In August the same year, VMC launched the first Special Purpose Acquisition Company (SPAC) from Asia, Vistas Media Acquisition Company Inc., which took Anghami, the MENA music streaming giant, public on Nasdaq in February 2022. Recently, Anghami announced a merger with MENA’s leading video streaming platform, OSN+. In 2021, VMC acquired a majority stake in PaperBoat Design Studios, an animation and design company.
VMC has also produced films and digital content in India and Hollywood under its production banners, Golden Ratio Films and PaperBoat Design Studios. Their Hindi films (produced and/or distributed by them) include Bhonsle, Albert Pinto Ko Gussa Kyun Aata Hai?, Nakkash and JL50. Among the Marathi films produced by Golden Ratio are AB Aani CD, Chandramukhi and Goshta Eka Paithanichi. In Tamil, it has co-produced Writer and J Baby. Among its international projects are The Extraordinary Journey Of The Fakir and Son.
Founded by Abhayanand Singh and Piyush Singh, VMC has a vision of setting up a global venture which integrates the entire value chain of media and entertainment, focusing on content, intellectual property and media technology.
Reliance Entertainment has a portfolio of over 300 films, many of which have been produced as joint ventures.