MCOT To Manage Thailand’s ITV

BANGKOK, March 2: Beleaguered Thai broadcaster ITV is set to
be run by the government-owned media company MCOT, which currently operates the
Channel 9 station and the Thai News Agency.

According to local press reports, Chulayuth Hirunyavasit,
the permanent secretary of the Prime Minister's Office, has confirmed that MCOT
will be hired to manage ITV, and will share 10 percent of its profits. MCOT
will also be responsible for ITV’s operating expenses, which amount to about
$2.9 million per month. The channel will also change its name to T-ITV.

The Thai government is assuming control of the outlet
because of its inability to shell out a $2.9 billion fine for emphasizing
entertainment over news and thereby breaching the terms of its broadcasting
license. The network is majority owned by Temasek Holdings. The
Singaporean-based company acquired a controlling share in ITV when it led a
takeover of Shin Corp., previously owned by ousted PM Thaksin Shinawatra.