The Subhash Ghai-promoted Mukta Arts has entered into an agreement with the Dubai-based Arab Venture Corporation to provide television content. This is Mukta Arts first foray into the television industry.
Ravi Gupta, managing director, said, "We have been invited to build content for AVC which is launching a channel in the Middle East."
The channel will focus on fashion and lifestyle and will be beamed in Dubai and other Middle East countries. The channel is expected to be launched on January 12.
The company has started production work for the channel. Gupta did not offer any information on what shows the company will produce for the channel.
He said the content will be decided by the Dubai company and Mukta Arts will work on the given brief. However, considering the company's mainstay has been Bollywood, one can expect film-based shows and movies from the company.
Gupta also said that AVC has offered Mukta Arts an equity stake in the company. However, they are still weighing the options and have not arrived at a decision. He declined to comment on how much equity was being offered by AVC. Mukta Arts may open a subsidiary company in Dubai if they decide to accept the offer.
Mukta Arts had been contemplating television content production since a long time. The company is already in talks with some major television broadcasters in India to provide content.
However, this will not mean a shift from its core competency- Bollywood movies. Some of the successful movies such as Pardes, Taal, Joggers Park and the most recent Aitraaz have been produced under this banner. The company's first bi-lingual Rs 30 crore (Rs 300 million) movie -Kisna also gets ready for a release in January 2005.