Nation Multimedia Group Public Company Limited (NMG) has announced the resolution of its Board of Directors meeting that Spring 26 Company Limited, NMG’s subsidiary and the operator of The Spring 26 Channel (NOW26), has requested to return the license to NBTC.
NMG asserts that NBTC will pay compensation as a result of the return of the license to the company within 60 days from the date of the company’s termination of the service in compliance with the rules relating to the return of the license.
The company plans to use the compensation to pay accrued network creditors, trade payables, short-term debt reduction and secured long-term liabilities with the financial institutions of the company as the company currently has liabilities with financial institutions and short-term loans totaling THB 918 million.
Hence, the company could repay debt on schedule and reduce the high interest burden caused by such liabilities. In addition, the company may use the remaining amount as working capital to increase financial liquidity in the main business that, in accordance with its policy, the company has expertise in namely print media, organizing related activities, contents, television media business, and production of program contents in every channel that could reach more consumers and faster as mentioned above.