Having split from its partner Palador Pictures, Indian studio UTV will press on alone with plans to launch a world cinema operation in a country dominated by local movies.
In March the two announced that they would acquire foreign-language and independent movies under their joint venture Olive label.
The pair quickly amassed South Asia rights to nearly 100 titles and said they would initially distribute on video, with UTV aiming to launch an Olive-branded TV channel by the end of the year. In May, however, UTV broke off dealings with Palador.
Palador will return UTV coin within 90 days but will retain the Olive name along with rights to 75 titles by European and Asian arthouse helmers.
“Both parties are mutually entitled to explore and exploit the world cinema category anywhere in the world, and our plans proceed apace,” said Siddharth Roy Kapur, UTV Motion Pictures exec VP of marketing, distribution and syndication.
“Our fallout with UTV was on philosophical grounds, and I am excited that there will be more than one house for these great directors and their films,” said Palador’s joint managing director Mohan Polamar.