Reliance MediaWorks (RMW) has sold 9.75% stake in media services major Prime Focus (PFL) for over Rs 155 crore through an open market transaction. It has sold 2.91 crore shares representing 9.75% stake of PFL to bring down its shareholding to 35.11%. The shares were offloaded on September 24.
Prime Focus, the world’s largest media services powerhouse, provides end-to-end creative and technology services including visual effects, stereo 3D conversion, animation, postproduction, Digital Intermediate (DI), equipment rental, hybrid cloud-enabled Media ERP technology and cloud media services to Studios, Broadcast, Advertising and Media industries.
