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Bollywood ace filmmaker and CEO of Reliance Entertainment Pvt Ltd, Shibasish Sarkar, who has helmed ‘Udta Punjab’, ‘Naam Shabana’, and TV shows like ‘Kaun Banega Crorepati’ is in talks with Anil Ambani to buy a private film studio and content distribution company owned by the industrialist and his family as a management buyout (MBO).
According to The Economic Times, Sarkar plans to use funds from his specialized acquisition company (SPAC), International Media Acquisition Corp (IMAC), for the deal, which could cost Entertainment Rs. 800-1,000 crore, he said.
Sarkar applied for a $230 million (1,715 crore) initial public offering in the US with a listing on the Nasdaq.
Sarkar has led Reliance Entertainment since early 2019, after joining the company in 2007 as CFO. Where he moves out of his current executive role at the company, overseeing the two major blockbuster releases from Reliance stable – ‘Sooryavanshi’ and ‘83’ where he is expected to relocate full time in their SPAC vehicle and declare an MBO. He is also the chairman and CEO of IMAC.
