GECs
Viacom-owned TNN changes look, name
NEW YORK: The US based cable network TNN (The National Network owned by Viacom) has announced its plans to change its name to Spike effective 16 June. The channel will change its positioning and will target males.
TNN president Albie Hecht was quoted as saying that the name Spike conjures up images of being “smart and fun and irreverent.”
Hecht also states that TNN is the first network to open admit that it is targeting males. Nearly 66 per cent of TNN’s viewers are males. TNN already airs properties such as World Wrestling Entertainment, Star Trek: The Next Generation and a made-up game of basketball played on trampolines called “slam ball. Its most popular programs, Monday’s two WWE wrestling shows, are off 22 percent in viewership, with “Star Trek” down 32 percent, Nielsen Media Research said.
Spike will also work with men’s health magazine to produce segments on fitness or relationships, and CBS Marketwatch to provide financial updates.
New programmes in the works include A Guy and His Stuff about gizmos and gadgets, and Top 10 Things Every Guy Should Experience which will follow men to top sporting events like the Super Bowl.
Reports indicate that Spike TV is already available in 86 million television homes.
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.
