Balaji Telefilms Ltd. is putting in place a team as it plans to firm up a growth strategy after snapping ties with Rupert Murdoch’s Star Group.
The latest catch is Nachiket Pantvaidya who is expected to join soon to head the television content business, the main source of revenue for the production company.
Pantvaidya has put in his papers at BBC Worldwide where he was serving as GM for Global Channels in South Asia.
When contacted, Pantvaidya declined to comment. But sources confirmed that he would join Balaji Telefilms to take care of the TV content business.
Late last year, Balaji Telefilms appointed Puneet Kinra from PricewaterhouseCoopers as Group CEO. The plan is to have vertical heads for the TV content and movie businesses who would be reporting to Kinra. UTV COO Ajit Thakur was earlier roped in as CEO of Balaji Motion Pictures.
“We are in the process of firming up our growth plans. We would be ready by early next fiscal to announce some of them. We are filling up the heads before that,” a source in the company said.
In August 2008, Star and Balaji announced they were terminating their agreements relating to the regional languages joint venture. This would have allowed the content production company to foray into the broadcasting space. Balaji also had the option of buying out the 25.99 per cent stake Star held in the company, but did not exercise it as the stock markets tumbled in the wake of a global economic turmoil.