AUSTRALIA'S only ethnic pay-TV broadcaster, TARBS World TV, yesterday became the first pay-TV provider to fall into receivership since industry pioneer Australis Media in 1997.<br /><br />The Australian understands that TARBS creditor PanAmSat, which provides worldwide satellite services to the Sydney-based business, appointed PricewaterhouseCoopers as receivers yesterday.<br /><br />The move follows a dispute between TARBS and PanAmSat over fees paid to the satellite group. A company spokesman confirmed the receivership but said TARBS was confident of resolving the dispute.<br /><br />Company founder Mike Boulos was not available for comment yesterday. He was in the Philippines, where TARBS launched its latest TV service just two days ago.<br /><br />The TARBS signal remains on air while the receiver reviews the business.<br /><br />It is not clear how much TARBS owes its creditors but the business is fully funded with no debt.<br /><br />TARBS, with a staff of about 200 people, provides a 65-channel, multi-language satellite pay-TV service to about 50,000 subscribers.<br /><br />It was established in 1995 as Television & Radio Broadcasting Services Australia by Egyptian-Australian businessman Mr Boulos and media executive and practitioner Regina Leviste-Boulos.<br /><br />In 2003, it was renamed TARBS World TV "to better reflect its core service of multicultural TV and radio".<br /><br />The company has also expanded worldwide, setting up regional headquarters and satellite facilities in Greece and the US.<br /><br />Australis, which operated under the Galaxy brand, failed in 1997. Many of its assets, and subscribers, were picked up by rivals Foxtel and Optus. <br /><br />SOURCE <br /><br />from Auspaytv Forum