Fox says Channel V will still be aired after contract with True ends

Corporate August 27, 2013 00:00

By WATCHIRANONT THONGTEP
THE NAT

3,124 Viewed

FOX INTERNATIONAL Channels (FIC) says Channel V Thailand will continue to be aired on CTH and GMM Z after its five-year broadcasting contract with TrueVisions expires at the end of this month.



Yesterday, Channel V Music (Thailand) announced that its shareholders had resolved to wind up its operation with immediate effect and Channel V Thailand would remain on the TrueVisions network only until the end of August.

According to the Commerce Ministry’s Department of Business Development, FIC holds 49 per cent of the shares of Channel V Music (Thailand) while TrueVisions, the country’s largest pay-TV operator, has 26 per cent and GMM Media, a subsidiary of GMM Grammy, holds the rest.

GMM Grammy notified the Stock Exchange of Thailand last week that Channel V Music (Thailand) Company, a 25-per-cent-associated company owned by GMM Media, would submit dissolution registration to the Business Development Department by next month. Otherwise, Channel V Music (Thailand) operates a fully localised music TV channel with live and pre-recorded programmes using the licensed “Channel V Thailand” branding for distribution as a pay-TV channel.

After the winding down of the current operation, FIC will wholly own and operate a new-image Channel V channel immediately next month.

MR Rujayarak Abhkorn, vice president and Thailand’s territory head at Fox International Channels, said this was in line with the firm’s global policy of operating its own channels under a non-exclusive strategy with local broadcasting platform providers.

“During five years of operation, the company has enjoyed satisfactory business performance. To expand its audience base and create new experiences for Thai fans, we made this decision,” Rujayarak said.

He added that though Channel V Thailand would no longer air on the TrueVisions network, the new version could be reached seamlessly via the larger platforms of CTH and GMM Z.

“About 90 staff at Channel V Thailand were informed in advance of this change.” They will be paid in accordance with labour law, he said.