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Reliance Mediaworks to Raise $111 Million

2:49 AM PDT 5/30/2011 by Nyay Bhushan

DreamWorks' partner plans an equity sale to reduce company debt.

NEW DELHI -- The board of film and entertainment services company Reliance MediaWorks has approved raising an amount of up to $111 million “by way of rights offer of equity shares to the company’s shareholders, subject to necessary sanctions and applicable provisions of law," the company said in a statement.

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