Adlabs promoter, NDTV arm in talks for film JV

NDTV Imagine, the entertainment wing of Prannoy Roy-promoted NDTV Network, is close to forming a 50:50 joint venture with Manmohan Shetty - the former promoter of Adlabs - to enter film production.

The joint venture, NDTV Imagine Film Company, will release movies in Hindi and other regional languages.

The deal marks the re-entry of Shetty, who strarted his business by processing films and later entered film production and distribution after selling his stake in Adlabs to the Reliance ADAG group. The fim industry had been agog with speculation that Shetty might join hands with rival brother Mukesh Ambani to enter the film production business.

During the launch of the Hindi general entertainment channel, NDTV Imagine, in January, Sameer Nair, the CEO of NDTV Imagine, said the firm would consider making films as a natural extension to cover the gamut of entertainment.