JKN Global Group has officially announced the sale of JKN18 Channel to Thai local media Top News after the news broke out during the weekend.
JKN Global Group Public Company Limited (SET: JKN) stated that it would like to clarify on the news report that it has divested the JKN18 channel, a digital terrestrial television station in Thailand, through its subsidiary JKN Best Life Company Limited (JKNBL), in which the company holds 100 percent of the paid-up registered capital.
JKN clarified that the company has reached an agreement with Top News Digital Media Company Limited (Top News) to collaborate on the production of news and information programs to be broadcast on the JKN18 channel between JKNBL and Top News.
Currently, the program schedule is being finalized to allocate broadcast times. Through mutual agreement, the company will receive fair and mutually beneficial compensation terms that maximize benefits for the company. Furthermore, it’s noteworthy that JKNBL retains the rights to operate a broadcasting or television business from the National Television and Telecommunications Commission (NBTC), as previously granted, and has not divested any rights to operate a broadcasting or television business, contrary to what may have been published in news reports from various media.
JKN noted that the collaborative production of this program is expected to bolster the JKN18 channel’s business. The company brings expertise in entertainment programs, as well as economic, financial, and investment news programs. On the other hand, Top News specializes in news information programming. This blend of expertise from both parties is expected to enhance viewership and broaden the JKN18 channel’s audience base significantly. It will also contribute to the company’s business growth, bolstering its strength and ensuring a steady and sustainable trajectory for the future.
However, JKN did not disclose the amount of “compensation” that it is expected to receive from this collaboration on the production. It was reported earlier from the source that the amount of THB 500 million will be paid to JKN for allowing Top News to step in as co-producer in the channel.