Bobby Bedi, producer of films like Bandit Queen and Mangal Pandey, joined hands leading Indian media conglomerate, Anand Bazaar Patrika Pvt to produce high quality content for filmed entertainment, television, mobile and Internet. ABP will pump in Rs 20 crore to kickstart Bedi's Kaleidoscope Entertainment Pvt Ltd, which is a foray into new media, primarily focused on television and mobile content development.

Kaleidoscope aspires to address the growing demand for content for the new media and digital space. "The paradigm of entertainment today has evolved beyond conventional definitions. The new media and digital content segment is growing in excess of 50 per cent annually. We envisage an acceleration driven by the ever-widening consumer base for technology products. This is, therefore, natural progression for an entertainment company like Kaleidoscope," said Bedi.

"A conglomeration of Kaleidoscope and the ABP Group, this enterprise is a win-win partnership for both the companies. This marks our foray into entertainment and, with a lot of exciting activities in the pipeline, we anticipate creating a large-scale and value-creating venture," Dr Pramath Raj Sinha, managing director and chief executive officer of Anand Bazar Patrika said.