BROADCASTING

PM's Office gives iTV another 30 days to pay

ANUCHA CHAROENPO

The Prime Minister's Office yesterday gave iTV another 30 days to pay 2.21 billion baht in concession fees still owed to the office, plus 464 million baht in interest. PM's Office permanent secretary Chullayuth Hiranyawisit will today send a letter to inform iTV of the deadline extension, which took effect yesterday.

The PM's Office initially gave iTV 45 days to pay up, but the station could not meet the deadline.

''If iTV is still unable to pay the concession fee to the PM's Office, I will soon forward this matter to the cabinet for consideration of whether to take control of iTV or not,'' Mr Chullayuth said.

Besides the concession fee and interest, iTV also has to pay a fine of 97.76 million baht. However, Mr Chullayuth stressed he did not discuss this amount in the first payment.

The office's latest move was a change from its tough stance last week, when it turned down all of the station's five proposals to find some middle ground with the state agency. Instead, the office planned to ask the Office of the Attorney-General to seek a court order to compel iTV to pay the concession fee plus interest as well as a fine, amounting to 103.04 billion baht altogether.

The station's proposals included issuing 1.5 billion new shares at par value of one baht per share and a cash surplus payment of 710 million baht to pave the way for the PM's Office to hold 52.9% of the stake.

It also proposed selling its 638 million shares to Thai investors to allow them to hold 52.9% of the stake; paying instalments of the concession fee; revoking the broadcasting contract; or allowing the government to take over all iTV shares.

Bangkok Post
Wednesday January 31, 2007