GECs
MGM expands worldwide TV distribution; Jim Packer appointed president
MUMBAI: Metro-Goldwyn-Mayer Studios Inc. (MGM) is reinvigorating its worldwide television distribution operation, hiring senior management and bringing a number of new high profile programs to buyers around the globe. The announcement was made by MGM chairman & CEO Harry E. Sloan and MGM COO Rick Sands.
The restructured MGM Worldwide Television Distribution Group, which reports to Sands, is headed by seasoned distribution executive Jim Packer, who assumes the new title of president. In this position, Packer remains in charge of television distribution worldwide, including US barter sales and syndication, as well as all emerging forms of television programming distribution on a worldwide basis, states an official release.
“After reinvigorating our domestic theatrical distribution business with over 20 new theatrical pictures a year, and establishing a dedicated MGM sales force in partnership with Fox Video, the next logical step is to expand our worldwide television distribution operation to meet our increased activity and product flow,” said Sloan in announcing the division’s restructuring. “Further, the international market for TV product has never been healthier and MGM continues to be an active and extremely competitive player in the marketplace.”
Sands added: “As aggressive and smart competitors, the reorganization of our worldwide television distribution operation is simply one way of maximizing the assets in our library and positions us for future growth in the marketplace. Jim Packer has already made significant contributions during his tenure at MGM and we are pleased he will be leading us to even bigger growth opportunities in his new role as President of the group.”
“After spending the last six years here at MGM, I truly understand the value of this tremendous library,” said Packer. “Having been given the challenge of increasing our market presence, I could not be more enthused about the expansion of our worldwide distribution team. With ‘Casino Royale,’ ‘Rocky Balboa’ and our new slate of premiere movie titles, our expanded distribution presence comes at the ideal time.”
Adding fuel to its distribution pipeline, MGM Worldwide Television Distribution Group will handle the international television sales for “Casino Royale” the new James Bond movie starring Daniel Craig, and “Rocky Balboa,” the sixth and final Rocky movie starring Sylvester Stallone. Leveraging proven properties within the massive MGM library, the MGM Worldwide Television Distribution Group will launch a worldwide sales campaign for the following movies: Legally Blonde 3, Cutting Edge 3
Into the Blue 2, WarGames 2 and Species 4.
In addition to its new program offerings, the MGM Worldwide Television Distribution Group will continue to handle distribution of over 4,000 movie titles and 10,000 television series that make up the MGM library, the world’s largest modern filmed and television library. Among the key television properties featured in the MGM catalogue are “Stargate SG-1,” the sci-fi series that is celebrating its record-setting 200th episode on the Sci-Fi Channel, and the immensely popular drama series “The L Word,” which airs on Showtime in the US, the release adds.
With the announcement of the MGM Worldwide Television Distribution Group restructuring, MGM has also announced key promotions within the group. Joe Patrick has been promoted to executive vice president, North America. He previously served as senior VP for the studio and is based in Los Angeles. Mary Ann Pasante, who has been the VP of Latin America Sales, has also been promoted to senior VP of Latin America Sales and will continue to be based in Atlanta.
Packer, who joined MGM in 2001, initially served as EVP, Domestic TV. In this post, he was the architect of several innovative partnerships, including the MGM/UPN “Weekend Movie” and the PAX/MGM “Night at the Movies.”
Packer was promoted to EVP of MGM’s Worldwide Television Distribution unit in April 2005, charged with oversight of the studio’s worldwide TV distribution activities, including the licensing of MGM programming to TV outlets around the world for free to air network television, basic and pay cable. Packer will continue to be based at the studio’s headquarters in Los Angeles.
Before joining MGM, Packer was an executive with The Walt Disney Company, where he spent 15 years working within the Buena Vista Domestic Television Distribution unit. During his tenure at Buena Vista, Packer consistently increased his areas of responsibility, handling the distribution of off-network product, theatrical films and first run series, including such properties as “Home Improvement,” “Live with Regis and Kathie Lee” and “The Golden Girls,” as well as numerous movie packages. Packer, a graduate of Leeds Business School at the University of Colorado at Boulder, also serves on the Board of Governors for the Museum of Television & Radio.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
