June 23rd, 2008 | Return Home

Half of a billion dollars is a hefty amount of money and Rajesh Sawhney, president of Reliance Entertainment, of the challenges that lie ahead. "Scale is the second word in our corporate philosophy. The first one is ambition," says Sawhney.

That ambition has fueled Reliance's rapid growth into India's largest entertainment conglom -- with interests in film, post-production, multiplexes in India and the U.S., homevid and radio -- under the direction of CEO Anil Ambani.

Sawhney is among Ambani's top lieutenants at Reliance, which also is fortified by substantial holdings in the power, financial services and mobile telecom sectors.

Sawhney said Reliance's discussions with DreamWorks' Steven Spielberg and David Geffen are opportunistic, matching their need for capital, as they seek to start anew after a rocky run at Paramount Pictures, with Reliance's long-held plans to take a strategic position in a world-scale entertainment business.

"There is an opportunity emerging and the other partner needs to see the synergies too. It cannot simply be about financial relations. We are not a hedge fund," Sawhney said.

Source: Variety



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