Nation Group establishes new subsidiary for Post Today, NewsClear acquisition
Nation Group Thailand Plc notified the Stock Exchange of Thailand (SET) on Monday that it has approved the establishment of a subsidiary for Post Today and NewsClear online media that it purchased from Bangkok Post Plc.
Nation Group expects the acquisition will strengthen its media empire, as Post Today brings over 20 years of experience in reporting business, economic and social news.
The new subsidiary, named Post Today Co Ltd, will serve as the recipient for licences and services of the newly acquired media.
On September 7, Nation Group notified the SET that the acquisition contract with Bangkok Post was finalised at a price of 58.85 million baht. Nation Group paid a deposit of 10 million baht, with the remainder due by September 30 or when the asset inspection is complete.
Post Today Co Ltd has registered capital of 120 million baht and 12 million ordinary shares priced at 10 baht per unit. Nation Group holds 99.99 per cent of shares in the company, whose business is listed as media and news services. The company is expected to start generating commercial earnings within this year.
Explaining the reason for the acquisition, Nation Group CEO Shine Bunnag said Post Today was a strong media outlet with 20 years of credibility and stature in Thai society.
“Post Today is an outstanding media outlet for both economic and social news. It is a crucial piece of the jigsaw that will help Nation Group grow stronger, as well as build new communities within our media group under the One Nation policy,” said Shine.
He added that the Post Today editorial team is committed to producing high-quality news and analysis that help sharpen public debate and thinking, while adhering to the highest ethical and journalistic standards. “Their dedication is compatible with Nation Group’s ideology, and this is another reason behind the acquisition,” he said.
Post Today has over 4 million followers on its online platform while NewsClear has about 1 million. The acquisition is part of Nation Group’s “One Nation” policy to maximise synergy, under the principle of press freedom, among all its media, including Krungthep Turakij, Nation TV Channel 22, Kom Chad Luek, The Nation Thailand, Nation Online, Spring Online, ThaiNews, OKNation, The People, and Khob Sanam. The acquisition also highlights Nation Group’s position as one of Thailand’s oldest and largest media organisations.