UTV chairman Ronnie Screwvala denied any possibilities of Vijay TV being taken over by Star TV. This was to clear the faux pas made by The Economic Times on 3rd August,2000 in their article "Star TV makes moves to acquire Vijay TV".

The article mentioned the possibility of an acquisition of the Tamil language channel Vijay TV by the Rupert Murdoch‘s broadcasting platform. However, Screwvala clarified "There are absolutely no plans for Vijay TV being put for acquisition or any plans having being finalized between Star TV and Vijay TV". Star TV and UTV have been in discussion for Digital Distribution with the Star bouquet both in India and globally. That is the maximum extent of negotiations and discussions so far."

The Unit Trust of India has invested Rs 4.5 crores in Rathikant Basu promoted Broadcast Worldwide. Broadcast Worldwide, which promotes the TARA (Television Targeted at Regional Audience) group of channels, has picked up 10% of the Rs 45 crores which are to be raised in the second round of funding.

UTI is the second investor which has picked up a 3.3% stake in the total equity of the company. The shares having a face value of Rs 10 per share are being issued at a premium of Rs 40 per share to the investors. A venture capital company from Gujarat has already picked up Rs 5 crore equity in this second round of funding which is likely to close by the end of the month.

The company is being assisted in its second phase by Ashok Wadhwa of Ambit Corporate Finance Pvt Ltd.

Alarmed by the recent fall in stock prices, dismal Q1 results for the year 2000 - Zee reported a mere 5% increase in the net profits and drop in TRP ratings due to rival channel Star TV‘s hugely popular Kaun Banega Crorepati game show, Zee Telefilms is setting itself an ambitious target of raising up to $700 to $800 million over the next sixty days.
The money raised will be used to fund various activities like strategic acquisitions of cable networks and regional channels, digitalisation of its bouquet of existing channels and updating its movie library.