"The project has been jettisoned after its feasibility study", said a senior executive. The primary reason for this decision, he explained, was that there were unlikely to be large revenues coming in from advertising.The channel was targeted at children. According to them, the four existing channels for children together account for only 1.5 per cent of total advertising revenue from television. "In that context, it made little sense to go ahead with the project."

Buzz TV was scheduled to go on air in April this year. The project was structured as a 50:50 joint venture between Modi Entertainment and Hallmark.According to sources, recruitment exclusively for the new television channel had also taken place. The fate of those recruited remains unclear at this stage. Senior officials at Modi Entertainment when contacted said most of them would probably be absorbed across the other ventures in the company. "It is possible that there will not be enough space for all of them", they however, indicated. Buzz TV was Modi Entertainment's first proposed television channel. Modi Entertainment is primarily in the business of distributing television channels. Kermit, a channel targeted at kids, was being distributed in India by Modi. It has recently gone off the air.

Hallmark in India is currentl being distributed by Modi Entertainment. Other channels that are distributed by Modi Entertainment are B4U Music, B4U Entertainment (both these channels are co-promoted by Bharat Shah) and FTV. The company has also entered into a tie-up with Doordarshan for the distribution of DD Sports. Prior to this, Modi Entertainment was distributing ESPN in India.