Rain might boost up RK Media, Thailand
Thailand: RK Media Holding plc faces uncertain outlook
Thai Press Reports (Thailand)
November 13, 2006
Section: Corporate News - RK Media Holding Plc will face an uncertain outlook since the future of its core TV and radio business, which accounts for 85% of total revenue, remains unclear, the Bangkok Post reports.
Chief executive officer Kittiwat Manosuthi acknowledged that the business plans for its 32 radio channels, whose income made up 79% of the company's total revenue of 145 million baht in the first three quarters, had been put on hold, pending decisions on whether their concessions would be renewed later this year.
The concessions to run the radio stations in key provinces excluding Bangkok will expire by the end of this year.
The MAI-listed media company would be selective and apply for renewals of only profitable stations, as the accumulated losses of 112 million baht in the January-September period mainly came from the radio business.
Its radio stations outside Bangkok could not compete with community radio stations, whose advertising fees are five times lower than those charged by RK.
As for the TV business, RK Media's new CEO will focus more on providing more sports and entertainment content. Currently, it produces only one food programme aired on iTV.
Mr Kittiwat said RK was in talks with a number of TV operators and expected to reach a conclusion by the end of this year before new programmes for 2007 were announced.
The good news for RK Media so far this year has been the concert by South Korean superstar Jung Ji-Hoon or Rain in February. The concert was a smash hit among local teenagers.
The next Rain concert will take place in Bangkok next February. The investment for next year's show, mostly from bank loans, will exceed the 50 million baht spent last year, he said.
''Importing concerts will become our new business, alongside digital media,'' said Mr Kittiwut, who has a background in finance and information technology.
RK Media, which has suffered losses for seven consecutive quarters, projected the third quarter would be its worst before the company started recovering in the first quarter of next year.
In the July-September period, it lost 54 million baht, compared to 14 million baht in the same period of last year.
RK shares closed on November 8 on the SET at 3.14 baht, up 12 satang, in trade worth 70 million baht.
Provided By: Financial Times Information Limited - Asia Africa Intelligence Wire//accessworldnews
Credit: rainonme@sexybi/Biā”nind@rainlover/janejz@Bi's Kingdom (www.popcornfor2.com)
Thai Press Reports (Thailand)
November 13, 2006
Section: Corporate News - RK Media Holding Plc will face an uncertain outlook since the future of its core TV and radio business, which accounts for 85% of total revenue, remains unclear, the Bangkok Post reports.
Chief executive officer Kittiwat Manosuthi acknowledged that the business plans for its 32 radio channels, whose income made up 79% of the company's total revenue of 145 million baht in the first three quarters, had been put on hold, pending decisions on whether their concessions would be renewed later this year.
The concessions to run the radio stations in key provinces excluding Bangkok will expire by the end of this year.
The MAI-listed media company would be selective and apply for renewals of only profitable stations, as the accumulated losses of 112 million baht in the January-September period mainly came from the radio business.
Its radio stations outside Bangkok could not compete with community radio stations, whose advertising fees are five times lower than those charged by RK.
As for the TV business, RK Media's new CEO will focus more on providing more sports and entertainment content. Currently, it produces only one food programme aired on iTV.
Mr Kittiwat said RK was in talks with a number of TV operators and expected to reach a conclusion by the end of this year before new programmes for 2007 were announced.
The good news for RK Media so far this year has been the concert by South Korean superstar Jung Ji-Hoon or Rain in February. The concert was a smash hit among local teenagers.
The next Rain concert will take place in Bangkok next February. The investment for next year's show, mostly from bank loans, will exceed the 50 million baht spent last year, he said.
''Importing concerts will become our new business, alongside digital media,'' said Mr Kittiwut, who has a background in finance and information technology.
RK Media, which has suffered losses for seven consecutive quarters, projected the third quarter would be its worst before the company started recovering in the first quarter of next year.
In the July-September period, it lost 54 million baht, compared to 14 million baht in the same period of last year.
RK shares closed on November 8 on the SET at 3.14 baht, up 12 satang, in trade worth 70 million baht.
Provided By: Financial Times Information Limited - Asia Africa Intelligence Wire//accessworldnews
Credit: rainonme@sexybi/Biā”nind@rainlover/janejz@Bi's Kingdom (www.popcornfor2.com)
posted by Flor at 7:22 AM
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