UTV says it is in "serious and advanced discussions with financial or strategic investors for its whole broadcast venture which includes Bindass, Bindass Movies and other channels."

Sources say UTV had yet to receive any funding from Astro for the joint venture.

UTV had earlier announced that it was getting into a 50:50 joint venture with Astro for rolling out a slate of youth-centric channels.

Earlier media reports have said that Walt Disney would acquire a majority stake in UTV. Walt Disney has already acquired 14.9 per cent stake in UTV while also buying out kids channel Hungama TV.

UTV' promoter holding, which stands at 37 per cent, will stand diluted with the equity being expanded.

UTV shares rose 3.81 per cent on Monday to close at Rs 819.25 on the BSE.