MUMBAI: Ajit Andhare, the founder and CEO of Colosceum Media, has decided to step down from the post.

Andhare will, however, continue to be associated with Colosceum as a director and mentor to the team. Without divulging any details, Andhare said he is moving on.

"This is a day of mixed emotions for me. Building Colosceum from scratch into one of the India?s leading studios has been a very fulfilling journey as a professional turned entrepreneur," Andhare said in a statement.

The production house best known for properties like MTV Roadies and Splitsville has appointed Lalit Sharma as chief operating officer and Rajiv Lakshman as chief creative officer.

Sharma and Lakshman, who have been a part of the founding team, will assume the responsibility as co-heads of the company. They are now set to steer the company to its next phase of growth and innovation.

The development gives credence to the rumours doing the rounds in the industry that Andhare is looking to offload his stake in Colosceum.

Andhare, it is believed, is keen on selling his stake in the company but that is if the valuation is right.

Capital18, which is a majority shareholder in Colosceum with 90 per cent stake, is also looking to bring down its stake in the company as part of its strategy to profitably divest stake in non-broadcasting businesses.

Capital 18 CEO Satbir Singh refused to comment. All that he said is,"We are constantly on the lookout to monetise our investments."

Andhare along with Lakshman owns the remaining 10 per cent stake.

The buzz in the industry is Mukul Deora?s Watchtower Entertainment, which was behind Bheja Fry2, is eyeing a stake in Colosceum.

A source close to the development says, "Watchtower Entertainment is keenly interested in Colosceum. KPMG is doing the due diligence for the company."

Colosceum is believed to have done a cumulative turnover of Rs twobillion in five years.

MUMBAI: MTV Hero Roadies X - Mauka hai, ya dhokha hai will hit the television screens on 19 January and will be aired every Saturday 7 pm only on MTV.

The show which is in its tenth season sees a twist where Raghu will be challenged by the first Roadie ever Rannvijay. Both of them will have a team of eight Roadies each. While Raghu?s team will have contestants from the previous nine seasons of the show, Ranvijay?s crew will consist of new contestants selected from across the country.

MTV India EVP and business head Aditya Swamy, "As MTV Hero Roadies enters an epic 10th season, the game changes yet again. Expect the unexpected as friends turn into foes to put to test the basic premise of life. Politics or Performance."

This season the title of Roadies will be fought and won in India, the place where it all started ten years back. MTV Hero Roadies will see an ultimate face off between Raghu and Rannvijay where only the strongest will live to tell the tale in the beautiful locales of the North East.

MTV Hero Roadies producer Raghu Ram said, "This year Roadies completes a decade and I am excited that the season is finally airing on the television screen. This season the viewers are going to get to see a complete new concept, hard-hitting stunts and crazier contestants. In addition to this it?s going to be Rannvijay and I against each other, which definitely is going to turn out to be more exciting and thrilling than ever before."

Rannvijay added, "Raghu and I have always been a team. This is the first time that we will be competing against each other due to conflict of opinion. The decade season of MTV Roadies will be packed with excitement and thrill, like all other seasons. I am sure the fans of the show will enjoy and look forward to the season."

The title sponsor Hero Corp said, "Hero Corp Quote? "To celebrate the launch of this 10th season, MTV has launched a Roadies Anthem ?Jajabor? which means ?Traveler? in Assamese. The song has been written and sung by country?s young star and Assam?s heartthrob Papon. It also features powerful vocals from none other than Raghu Ram and captures the intensity of the North East, which is the backdrop for this season."