Ok, the news is sad.... but this is whats gonna happen. They'll find an Indian broadcast partner, and provide their movie library to them.
So, we may see some new english movie channel from Zee, Star etc.... players who can afford, all such carriage fees costs.
Just like VH1 channel, which is distributed by Zee brand, has managed to survive... and its not that, its ratings are high... its just that they ve d money to run d channel even under losses.... and channels like 9x0, Spark etc have met their fate of shutdowns... same happened with BBC entertainment, and ITV Granada.