Madras-based production outfit GV Films is linking up with UK internet portal Asian Online to create a joint venture focusing on internet broadcasting and related ventures.
A memorandum of understanding was signed in London between GV chairman and managing director G. Venkateswaran and Asian Online on February 18. The board of directors is scheduled to meet on February 23 to formalise the joint venture.
Asian Online was set up in 1996 as an internet service to the Asian community in the UK and beyond. It has a market capitalisation of $12.3m (£7.7m). GV Films has a large catalogue of Indian films, which would be sold to the joint venture and which Asian Online would sell through its network on the internet.