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Thailand’s Nation Multimedia Group to sell assets worth $42.8m

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Nation Multimedia Group (NMG), a SET-listed media company, will sell its non-core assets, including its shares in digital TV channel Now26, and a printing plant, for 1.4 billion baht ($42.8 million) through a bidding process next year.

The disposed assets include Nation U (NU), which operates Nation University; Bangkok Business Broadcasting (BBB), which operates Now26 digital TV channel; WPS (Thailand), which operates a printing plant; NML, which provides logistics service; and its land and buildings.

The auction is expected to be completed around March-April 2018 after it is granted the relevant approval by its shareholders on February 28, NMG said in a filing to the Stock Exchange of Thailand on Wednesday.

The company said the proposed transactions are part of its business restructuring plan. After the disposal process is completed, it will focus on the core businesses of printing media, activity and event organization, content production, NBC group’s television media business (Nation 22 news channel on digital TV) and the businesses of NINE Group.

Proceeds will largely be used to repay debts, reduce interest payments and as revolving capital, with a small portion to be used to cover operating expenses, NMG added.
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DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

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Medias

The TikTok Strategy: Using AI Platforms to Take Over the World

Hugely popular with teenagers and millennials, TikTok – known as DouYin in China – is a social media application used for creating and sharing short videos. Lasting 15 seconds or less, the typical clip features fun music, a skit, lip-sync, dance or light-hearted humour.

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A curious combination of prediction-technology and human censors enables ByteDance to create a dynamic global video ecosystem.

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Women’s Day : Twenty-seven women journalists held in appalling conditions

Tortured, humiliated and sexually harassed : Twenty-seven women journalists held in appalling conditions

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As the world marks International Women’s Day, Reporters Without Borders (RSF) points out that 27 women journalists are currently detained around the world. Some are being held in inhuman conditions.

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Thai Businessman Chatchaval Jiaravanon buys Fortune for $150 Million

Founded in 1930 at the outset of the Great Depression, FORTUNE has become synonymous with business success

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American publisher Meredith announced on Friday that it has agreed to sell Fortune for $150 million to Fortune Media Group Holdings Limited, wholly owned by Chatchaval Jiaravanon. (more…)

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