To our valued Broadcasters,<br /><br /> <br /><br />Last July 2, PricewaterhouseCoopers were appointed by PanAmsat to act as Receivers Managers for TARBS World TV for the non-payment of three months of transponder lease fees to PanAmsat which triggered a clause within a secured note that we have signed with them.<br /><br /> <br /><br />This came as a total surprise to Mike and I, who have been trying to get an audience with PanAmsat over the last month and half for a meeting to renegotiate transponder fees and payments.<br /><br /> <br /><br />By 11:15am Wednesday, 7 July, we were informed by the Receivers that PanAmsat has made the decision to turn off all signals on PAS 8 Ku over Australia. We made a plea to keep the signals on until 6pm that day to allow us to inform the subscribers of what was to happen and determine how best to manage their questions and emotions. Our request was not granted and at 12 noon Wednesday the signals went down.<br /><br /> <br /><br />We are saddened for our subscribers who deserved an explanation, but we were not given a chance by the Receivers to do so.<br /><br /> <br /><br />Mike and I are continuing to try to find a solution to this situation and to try to bring the signals back as soon as we can. Unfortunately this will require a few days and probably a huge commitment to PAS for the continued use of their transponders over Australia as well as additional funding to bring the business forward.<br /><br /> <br /><br />Mike and Regina Boulos<br /><br />TARBS Australia