Intouch makes foray into TV broadcasting through joint venture with Kantana Group
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Intouch Holdings, the country's leading telecommunications company, is diversifying into the broadcasting business by tying up with Kantana Group, the country's largest TV and film production house.
The telecom giant aims to use the new joint venture to explore business opportunities in the television business after the birth of terrestrial-based digital TV.
The establishment of the “Joint Venture Kantana and Intouch” with Bt40 million was reported to the Stock Exchange of Thailand yesterday.
Intouch Holdings will invest Bt20 million through its wholly owned subsidiary Intouch Media, while the other half of the investment belongs to Kantana Group.
Kim Siritaweechai, executive vice president for portfolio management at Intouch Holdings, said in the statement that the new JV would produce TV programmes and leverage the potential of its existing businesses.
High-ranking executives from both companies declined to comment on the next step for the new venture.
But an Intouch Holdings source said the new unit was planning to remake a US teen drama series called “Gossip Girl” into a Thai version to be shown on a digital channel here.
Kantana is a copyright holder of popular TV productions from US-based Warner Brothers. The company is also responsible for production of an 18-episode local adaptation and negotiations with digital-TV operators about airing the show.
Last year Intouch had plans to enter the digital TV broadcasting business but failed to snare a standard-definition variety licence in the auction conducted by the National Broadcasting and Telecommunications Commission.
The source also said that with this JV, Intouch could explore opportunities in this emerging market.
