Mumbai, Jan 16 (IANS): Anil Dhirubai Ambani-led Reliance Entertainment on Tuesday announced a joint venture with S. Sasikanth's Y Not Studios and Sanjay Wadhwa's AP International for production of movies, marking its entry into the south Indian market.

Shibasish Sarkar, Chief Operating Officer, Reliance Entertainment, said in a statement: "This relationship will allow Reliance Entertainment to make its presence felt strongly in the vibrant south film market, with production of high quality content.

"This relationship is in line with our continuing strategy of partnering with like-minded and successful creative individuals, while playing the role of supportive investors on our part."

This marks Reliance Entertainment's fourth joint venture after successful creative partnerships with Rohit Shetty Picturez, Plan C Studios and Phantom Films.

Y Not Studios has produced 12 feature films in Tamil, Telugu, Malayalam and Hindi. Some of their projects include "Thamizh Padam", "Kadhalil Sodhappuvadhu Yeppadi", "Vaayai Moodi Pesavum", "Kaaviya Thalaivan", "Irudhi Suttru", "Vikram Vedha", "Shubh Mangal Saavdhan".

Sasikanth is confident about the exciting partnership.

"This collaboration will provide a platform that will enable Y Not Studios, which has backed content-driven projects, to expand our portfolio not just in the regional segment, but also nationally and internationally. We are super thrilled, and looking forward to a long and fruitful journey ahead," he said.

Wadhwa, partner of overseas distributor AP International, said: "We have been working with Reliance Entertainment since they came into Tamil films (distribution) with 'Yaavarum Nalam', and with Y Not Studios since their inception with 'Thamizh Padam', and are very excited to be a part of this joint venture."