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UTV and Palador's conflict heats up |
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Written by Patrick Frater
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Monday, 05 November 2007 |
SANTA MONICA – The struggle between Indian
studio group UTV and indie Palador over the launch of 'world cinema' operations
in the sub-continent, got a whole lot messier last week when Palador resorted to the High
Court.
Company claims that UTV has failed to comply with an arbitration decision
that would have allowed the two companies to go their separate ways after a
breakdown of their joint venture.
On Aug 1 arbitrator ruled that Palador should return UTV coin within 90
days and that UTV hand over rights to 75 titles by European and Asian arthouse
helmers.
Palador says that it has raised $6 million of funding and is currently
raising a further $10 million. Last month it launched a video-on-demand service
hosted on the Tata Sky DTH satellite platform. UTV plans to launch a world
cinema channel in
India by early 2008.
© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
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