Thailand's leading film production GMM Tai Hub (GTH) Co today announced that it would be disbanding effective December 31.
The company cited an internal dispute on the future direction of the firm as the reason for the break-up.
Set up 11 years ago, GTH was born from a merger between three companies: Tai Entertainment Co, Hub Ho Hin and GMM Grammy.
GTH called an urgent press conference on Friday to inform the press of its decision.
According to the company, the decision to close down stems mainly from a management disagreement over Tai Entertainment’s decision to list GTH on the stock market. Hub Ho Hin did not agree with the plan and it was impossible to reach agreement on the issue.
GTH has produced a number of Thai blockbusters, the most successful of which was the ghost comedy “Pee Mak”, which earned Bt1 billion in ticket sales. The firm is also well respected in the region with most of its films screening in other countries.