UTV Software Communications has called off its association with Malaysia-based Astro Multimedia International (BVI) Ltd (‘Astro’). As is known, UTV and Astro had formed a JV around November 2006 to launch an entertainment entity targeting the youth, which was later branded as ‘Bindass’. UTV has stated that it is in advanced stages of discussion with a strategic partner to invest in its broadcasting business. Terminating its association with Astro is a step in that direction for UTV.
UTV officials have confirmed the development.
Media reports have been stating that the strategic partner who would invest in UTV is Walt Disney. However, UTV officials have called this as “speculative and incorrect”.
UTV Software Communications has four verticals – UTV Content, which is the television production outfit; UTV Motion Pictures that also has recently established a sibling in Spotboy Productions; UTV Interactive that is the gaming and animation division; and UTV Broadcasting.
In UTV broadcasting, there is an arm called Variety and Speciality (V&S) Broadcasting Ltd, which has variety, entertainment and speciality channels, and there is Bindass, of which the Hindi GEC Bindass and the Hindi movie channel Bindass Movies have already been launched. More initiatives, including other channels, are also expected from this venture.