GECs
TNT US scores high in 2005
MUMBAI: With the final numbers now in for the 2005 ratings year, TNT US says that it has scored eight cable and ad-supported cable records, including one for its Golden Globe-nominated series The Closer. This is according to data from Nielsen Media Research.
Meanwhile, sister network TBS scored a triumph by winning the prime time race for adults 18-34. TNT had its best-ever annual prime time delivery of adults 18-49 for an ad-supported cable network (1,165,000).
It also had a peak in its prime time delivery of adults 25-54 for an ad-supported cable network (1,240,000) It also did well in prime time delivery of persons 2+ for a cable network (2,570,000) and in households for a cable network (1,963,000)
TNT, TBS executive VP, CEO Steve Koonin SAYS, TNT is not only leading ad-supported cable with its incredible performance each year, its rewriting the book on the industry. The network has clearly tapped into the mindset of todays television viewers and given them the kind of spectacular, high-quality drama they crave.”
“And we are already working hard to ensure we keep on our winning track in the year to come, with another season of The Closer, the premiere of the anthology series Nightmares and Dreamscapes: From The Stories Of Stephen King and several other high-profile original projects we have in the works, says Koonin.
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.
