GECs
PanAmSat expands agreement with CCTV
MUMBAI: China Central Television (CCTV) has signed a multi-year expansion agreement with PanAmSat for the distribution of its premium programming to Western Africa. The new contract enables CCTV to expand the geographic reach of its programming to millions more viewers around the world.
“CCTV is an international broadcasting powerhouse, reaching viewers worldwide via five PanAmSat satellites. As PanAmSat has grown, so has our relationship with CCTV,” PanAmSat Asia Pacific V-P David Ball said. “We look forward to continuing our support of CCTV’s global expansion and growth with our highly reliable and technologically advanced fleet.”
CCTV has been a PanAmSat customer since the launch of the company’s PAS-2 satellite in 1994. PanAmSat currently provides full-time program distribution services for CCTV via the Company’s PAS-1R Atlantic Ocean Region satellite, PAS-8 Pacific Ocean Region satellite, PAS-9 Atlantic Ocean Region satellite and PAS-10 Indian Ocean Region satellites.
PanAmSat also provides CCTV with capacity on its Galaxy 3C satellite for direct-to-home (DTH) services in the United States. CCTV uses PanAmSat’s teleports in Napa, California and Atlanta, Georgia for satellite downlinks, standard conversions, multiplexing and satellite uplinks. This new agreement is for capacity on the Ku-band payload of the PAS-1R satellite.
“PanAmSat’s global fleet has enabled us to deliver our programming beyond China to viewers around the world,” CCTV V-P He Zong Jiu said. “As PanAmSat has expanded its global services, we have been able to utilize the greater power and coverage for the efficient and economical distribution of our global programming.”
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.
