NDTV Monday announced plans to launch an entertainment division, headed by Sameer Nair, who had earlier spearheaded STAR Entertainment India, in association with well-known filmmaker Karan Johar as it sought to tap the booming entertainment industry in India worth Rs.437 billion.

"It is a big challenge for me. It's like a new beginning for me," Nair told the media at a press conference here.

"We are going to start with one channel which we are planning to launch either at the end of this year or early next year. We are still in the process of assembling the team. It is just time now to make change in the business and I hope along with the team we are ready to spearhead that change," he said.

Nair is credited with making STAR Plus a market leader with hit shows such as "Kaun Banega Crorepati" and "Kyunkii Saas Bhi Kabhi Bahu Thi".

"This is one of the most exciting presser I have ever attended. I am thrilled to be here flanked by two amazingly talented with people - Sameer and Karan Johar. It's always been a dream for last 20 years to start a full-fledged mass entertainment channel. But we wanted to do it properly and in the right manner," said Prannoy Roy, chairman of NDTV.

"We didn't want just to clone. We hear a bit about how (Indian) cinema has transformed in last five years. We hope it is time for entertainment and television also to transform itself.

"When we say we wanted to do it right we really wanted to have the best team. I have known Sameer for last 10 years and we are confident that he is the best person to create something that we all are going to be proud of. As I know him for so long, I can say how brilliant he is. We really look forward to him to turn a dream into reality," said Roy.

Crediting Johar for "probably single-handedly transforming Indian cinema," Roy said: "He will be ideating the whole venture as the creative head."

Talking about his role, Johar said: "I am a filmmaker and the two reasons for which we filmmakers exist are imagination and entertainment. We all are here to imagine and entertain so I feel my presence on this platform is justified. With films we touch the lives and with television we are ready to enter lives."

Johar, who has made superhit films like "Kuch Kuch Hota Hai" and Kabhi Khushi Kabhie Gham", said this partnership with Nair and Roy is not a coincidence. "We were destined to work together and that is why we are here today."

In its first phase NDTV Imagine will launch a general Hindi entertainment channel and later add two more channels.

They, however, were not ready to talk financial details of the new venture.