Shine quits NBC to rebuild Nation Group under One Nation policy
Shine Bunnag has stepped down as Nation Broadcasting Corporation (NBC) CEO to work on combining the Nation Group’s eight media outlets in line with the One Nation policy.
The new strategy will connect Krungthep Turakij, Kom Chad Luek, Nation Thai News, Nation TV 22, The Nation Thailand, The People, Khob Sanam and Spring Online.
NBC director Asst Prof Dr Samart Deephijarn has taken over from Shine as of Monday, the company’s report to the Stock Exchange of Thailand said.
At a meeting on April 29, shareholders approved the sale of 691.03 million or 61.46 per cent stake held by Nation Group in NBC to Nattapong Sitaworarat and Boon-ua Jitthanom for 898.34 million baht. These transactions are expected to be completed by July.
The shareholders also approved the Nation Group’s purchase of 85.99 million shares, equivalent to 99.99 per cent of registered shares, of NBC Next Vision (NNV) at 2.79 baht each from NBC. The stake will cost the company 239.72 million baht.
On April 29, NBC shareholders also approved the sale of NNV shares to Nation Group. NNV is an owner of Nation TV 22, which also holds a 60 per cent stake in Nation Coffee.
Shine, who is also CEO of Nation Group, said these moves are important steps towards the company’s new landscape along with maintaining its reputation as a fair and responsible media outlet. He said adhering to this ideology was important, especially since The Nation turns 51 on July 1.
“Once transactions are completed, Nation Group will be strong financially and ready to expand the business further,” he said.