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McClatchy-Tribune  06/20/2014 12:01 AM ET
Spring allocates B2bn for TV supremacy [Bangkok Post, Thailand :: ]

June 20--Spring News Corporation, the TV arm of the MAI-listed Solution Corner (1998) Plc (SLC), intends to be the top news TV station next year in a bid to break even in three years.

President Suthichai Bunnag said the company plans to spend 2 billion baht this year ? 1.3 billion for a 15-year digital TV licence and the rest for content development.

Spring News will emphasise three strategies, with the first being a focus on three ultimate features ? speed, truth and tenacity ? to provide news and information.

Second, Spring News plans to offer a communications platform to suit every viewer lifestyle, comprising mobile apps, Facebook, Twitter, TV screens on the skytrain, a new channel for 1,000 taxis, radio stations and on-ground activities.

The third prong is to report current news during broadcasts. Spring News allocated 80% of its air time for news content and will reschedule to feature urgent news.

Spring News aims to acquire two radio stations this year, including Click Radio FM 102.5, to become a fully integrated multimedia platform provider, comprising TV, radio and online media.

Mr Suthichai said it plans to construct a new office and studios on 11 rai in the Rama IX area worth over 1 billion baht. The headquarters are expected to be completed in three years. The TV station now rents the Lao Peng Nguan Tower on Vibhavadi Rangsit Road. Spring set an advertising rate of 80,000 to 120,000 baht a minute.

Solution Corner chief executive Arat Ratboriharn said his company planned to raise funds to serve its business expansion through a capital increase programme.

The IT solutions company planned to sell 2.5 billion shares at 40.5 satang each in February, which would generate about 1 billion baht to fund its digital TV investment. It sold 1.12 billion shares, with 1.38 billion shares left unsubscribed. Mr Arak said it will sell unsubscribed shares until 2016, with funds also used for cash flow.

A Spring News source said Tong Hua Communications Plc, which in February showed interest in a 25% stake in SLC, might change its mind.

SLC shares closed yesterday on the MAI at 44 satang, down two satang, in trade worth 296 million baht.


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