CANNES: Zee TV group outfit Padmalya Telefilms will be developing a kids channel as part its relationship with Italian firm Mondo TV. The channel called Space Toons it is slated to launch some time in August.

The channel has been designed as a formatted channel with different 'planets' representing various programming genres - Mercury for science, Mars for action etc. There will be a retail operation that extends the format brands into the Indian market. The announcement was made at MipTV in Cannes.

According to Mondo's vice-president Ricky Corradi the company is seriously interested in the Indian market. Its agreement with the Zee TV group includes an investment of $14 million in India, the production of four animation series in five years. Among the series that it will produce include Sindbad, Fab Five (26x30), and Panchatantra. In return Padmalaya will distribute Mondo's library in India in a deal reputed to be in excess of $five million.

The new channel will be put on the Zee TV group's DishTV and Punit Goenka who heads the DTH platform says, "We are hungry for content and Mondo is one of the few companies in the world that has a library big enough to feed that hunger."