UTV terminates ties with Palador,to run world business under Olive

New Delhi, May 16 (UNI) The entertainment giant UTV has terminated, with immediate effect, business relations with Palador, that it had formed under the brand of UTV-Palador, for world cinema business.

The business relations with Palador have been terminated with immediate effect, due to material breach of terms of agreement by Palador and its co-promoters Gautam Shiknis and Mohan Polamarasetty, a UTV spokesperson said.

''UTV is on track to operate the world cinema business under the brand name 'Olive'. UTV plans include roll out of a DVD label under the 'Olive' brand name and its television channel on world cinema would launch by year-end,''the spokesperson added.

UNI