GECs
Current TV aims to let viewers create programmes
MUMBAI: It’s as current as they come. Former US vice-president today launched Current TV, a 24 hour channel, under his Generation Investment Management umbrella in the US. He launched the channel in partnership with US Attorney Joel Hyatt.
At start up it has carriage on DirecTV, Time Warner Cable and Comcast – a potential audience of 20 million homes. Its USP: its schedule will have content in the form of pods or clips created by lay consumers and contributed over the internet. The bite-sized video clips will be no more than seven to 10 minutes long and viewers will be able to vote for their favorite amateur video online. The topics which will be covered include: jobs, technology, spirituality and current events. An Internet-like on-screen progress bar will show the clip’s length.
Gore has also tieup up with Google allowing itself to be updated each half-hour on topics that people are searching for on the web. The target audience: 18-34 year olds.
Gore told a US publication: “Until now, the notion of viewer participation has been limited to sending a tape to Americas Funniest Home Videos, calling an interview show, taking part in an instant poll, or voting someone off an island. Were creating a powerful new brand of television that doesnt treat audiences as merely viewers, but as collaborators.
He had earlier taken over a US network called the Newsworld International channel, and repackaged it as Current TV.
While there are some doubting Thomases about the success of the Current TV, considering that Video Blogs, Blogs offer the same service online, Gore says he is confident that the channel will work. For that to happen, Current TV will have to become the currency among audiences.
GECs
Sebi sends show-cause notice to Zee over fund diversion, company responds
Regulator questions 2018 letter of comfort and governance lapses; company vows robust legal response
MUMBAI: India’s markets watchdog has reignited its long-running scrutiny of Zee Entertainment Enterprises, issuing a sweeping show-cause notice that drags the broadcaster and 84 others into a widening governance storm.
The notice, dated February 12, has been served by the Securities and Exchange Board of India to Zee, chairman emeritus Subhash Chandra and managing director and chief executive Punit Goenka, among others. At its heart: allegations that company funds were indirectly routed to settle liabilities of entities linked to the Essel Group.
The regulator’s probe traces its roots to November 2019, when two independent directors resigned from Zee’s board, flagging concerns over the alleged appropriation of fixed deposits by Yes Bank. The deposits were reportedly adjusted against loans extended to Essel Group entities, triggering questions about related-party dealings and board oversight.
A key flashpoint is a letter of comfort dated September 4, 2018, issued by Subhash Chandra in his dual capacity as chairman of Zee and the Essel Group. The document, linked to credit facilities availed by certain group companies from Yes Bank, was allegedly known only to select members of management and not disclosed to the full board—an omission SEBI believes raises red flags over transparency and governance controls.
Zee has pushed back hard. In a statement, the company said it “strongly refutes” the allegations against it and its board members and will file a detailed response. It expressed confidence that SEBI would conduct a fair review and signalled readiness to pursue all legal remedies to protect shareholder interests.
The notice marks the latest twist in a saga that has shadowed the broadcaster since 2019. What began as boardroom unease has morphed into a full-blown regulatory confrontation. The final reckoning now rests with SEBI—but the reputational stakes for Zee, and the message for India Inc on governance discipline, could scarcely be higher.
