'Don't Panic' denies closure reports



Recent reports which suggested the hardcore mature content service 'Don't Panic TV' was to close have this week have been dismissed by the channel. The reports had suggested that the channel was suffering heavy financial losses having failed to a attract a significant number of subscribers, and that the channel wouldn't be able to renew its transponder contract and would go off-air in early September. However, the channel's owners have strongly denied the reports, claiming they have extended their transponder contract on Hot Bird by 15 months. The channel, which partly owns the recently launched s_x.tv service, also claims to have spent out on a library of new films, including several British titles.