UTV Severs Ties With Astro For Bindass

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UTV Software has informed the BSE that they have called off their “discussion” with Malaysian DTH and Pay TV co Astro for a TV joint venture in India; that venture was supposed to be UTVs youth focused business Bindass, which was launched earlier this year. UTV had entered into a term sheet with Astro. Astro is itself looking to launch Indian operations this year. UTV is believed to be in advanced stages of discussion for financial and/or strategic investment, and reports have indicated that Disney (NYSE: DIS) might be picking up a stake. UTV had announced an outlay of Rs. 200 crores for the channel.

Bindass is supposed to straddle three domains – TV, Internet and Mobile – and their Internet initiatives have been unimaginative and disappointing. In the past, UTV had terminated business relations with Palador for their world cinema channel, Olive.

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BlogsDNA

UTV has been trying some thing out of the box, I have seen UTV coming up with blogs news and some more online stuff. TV has been old battle ground for UTV and now it's trying enter in other part of media like Internet

Vijay

Nikhil,

How serious you think foreign players like Disney are about India. Would Disney really be interested in management control of UTV? Would they understand the complex Indian movie industry enough?

What are your thoughts on this whole Disney UTV acquisition news.

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