As its principals battle in an Ontario court for control of the independent producer, Shaftesbury Films is holding talks with a number of foreign financial investors about a future partnership. These developments come just as the prodco is ramping up its film and TV production.

Sources close to the advanced negotiations say Shaftesbury has met with a number of heavy hitters, most notably in Britain and continental Europe, about taking a minority stake in the Toronto production company. Among the possible suitors is Granada International, a division of British broadcast giant ITV that is currently stick-handling international sales of Shaftesbury’s Murdoch Mysteries drama.

A Granada International spokesman in London offered no comment when asked about ongoing discussions between Shaftesbury and the British distributor.

The Shaftesbury source said a formal announcement on a new ‘strategic relationship’ could be made within days.

News that Shaftesbury is seeking an injection of foreign growth capital follows a story in The Globe and Mail on Thursday that revealed the contents of Ontario court filings indicating company co-CEOs Christina Jennings and Jonathan Barker are fighting a legal battle for control of the company. Jennings was selected as Playback’s Person of the Year for 2007.

The search for capital also coincides with Shaftesbury Films dramatically ramping up production. The producer is expected to shoot film and TV projects with budgets totaling $81.5 million in 2008, up from a $57-million production slate in ’07.

Shaftesbury projects in the pipeline include the US$13-million IMAX film The Greatest Journey, which is being shot in Saudi Arabia and is executive produced by Barker.

Besides being president of Shaftesbury, Barker, a former Imax Corporation executive, also heads up its SK Films subsidiary, which makes films for the IMAX format.

Court filings related to Barker’s feud with Jennings indicate financing for The Greatest Journey could fall through if he were to be removed as co-CEO of Shaftesbury Films.