MUMBAI: UTV Motion Pictures has terminated its relations with Palador – the world cinema business – that it had formed under the UTV-Palador brand.
This initiative was launched to promote world cinema and cashing in on various platforms including theatrical releases, home video release and satellite telecast. The association was announced with much aplomb at this year’s FICCI FRAMES 2007 seminar in March.
According to an official communiquÃƒÂ© from UTV, “The association has been terminated with immediate effect, due to material breach of terms of agreement by Palador and its co-promoters Gautam Shiknis and Mohan Polamarasetty.”
However the company informs that UTV is on track to operate the world cinema business under the brand name Olive. UTV plans include roll out of a DVD label under the Olive brand name and its TV channel on world cinema would launch by year-end.
UTV launches new biz vertical UTV Palador