NMG petitions court to strike down ruling on disputed shareholding
Adisak Limparungpatanakij, chief executive officer of Nation Broadcasting Corporation, on behalf of three companies under Nation Multimedia Group, yesterday filed a petition with the Administrative Court to strike down the 3-2 vote by the broadcasting reg
The co-petitioners are Nation Multimedia Group, NBC Next Vision and NBC.
The broadcasting committee of the National Broadcasting and Telecommunications Commission has been accused of violating Article 31 of the Broadcasting Business Act of 2008 and the criteria used for the selection of those who can be stockholders and stakeholders before and after the digital-TV licence auction held in late 2013.
The complaint alleges that the committee’s decision will also lead to the dangers of domination of the media and restraints on free and fair market competition.
The three broadcasting committee members named in the petition are its chairman Natee Sukonrat, Pol Colonel Taweesak Ngamsanga, and Lt-General Peerapong Manakit.
The three companies asked the Administrative Court to order the committee to void its decisions made on the NEWS case on March 23 and 30 and to order NEWS and associates to reduce their holdings in NMG to 10 per cent or lower.
According to the rules governing the auction of digital-TV licences, a major shareholder cannot own more than 10 per cent of other companies in the same licence category.
"Major shareholder" is not only defined as a person or juristic person allowed to have ownership of not more than 10 per cent of the company, but also mutual beneficiaries.
NEWS and its subsidiaries wholly own the Spring News digital TV station.
