Palador to launch world cinema TV channel by 2009

[sathish456]

Palador, the largest distributor of world cinema in India, that holds more than 1,000 titles, is planning to launch a world cinema television channel by the first quarter of 2009. The company so far has four distribution platforms including a DVD tie-up with Moser Baer, with movie channel Zee Studio, the company’s own distribution on home video and film festival circuit and the theatrical releases which are slated to begin this October.

Prior to this, Palador had a joint venture with UTV and was supposed to launch a channel under the brand name Olive. The JV broke up last year, when Palador filed a legal suit against UTV over breach of trust, breach of non-disclosure of agreements, defamation, damages and violation of intellectual property. The company demanded upwards of Rs 15 crore from UTV via its suits. The matter is currently sub judice. “We will be launching our own channel, just that it won’t be called Olive. The name of the channel has not yet been decided.” said Gautam Sikhnis, founder and managing director of Palador Pictures. He added, “Zee Studio is a soft side of our television plans. Besides this, there are other vernacular channels with whom we are currently negotiating for launching world cinema content.” It is estimated that the valuation of the 1,000 titles held by Palador will reach Rs 1,500 crore by 2009 and comprise 20% of the non-Indian language movie segment in India. Earlier, the company also raised equity of $6 million through a group of private individuals that include Mahesh Mathai, Srila Chaterjee and Simran Mulchandani - based in Mumbai; and Arun Banerjee and Vishal Aggarwal – both New York based NRIs.

The company also has a production and publishing business. “But over the last one year, we have tried to become the single largest distributor of world cinema in India in terms of size of the catalogue, the integration of our distribution model, or the pure revenue sizes that we are currently generating,” said Sikhnis. By the end of the current financial year, the company is projecting a total revenue of $4-5 million.

Recently, Palador Pictures, along with the embassy of Sweden, celebrated a month long retrospect of the work of filmmaker Ingmar Bergman. It garnered a positive response in Delhi, Kolkata, Chennai, Bangalore, Pune and Mumbai.

The Financial Express

[roh_style]

Well, its good that we there is 1 more movie ch waiting in the pipeline...!! It seems it will come on Dish TV as it seems to have a tie-up with Zee Studio..!!