Cable Thai Holdings (CTH), a Multi-System Operator in Thailand, is targeting to increase its registered capital to THB 3 billion (USD 92.7 million) from THB 800 million (USD 24.7 million) in its first year of English Premier League (EPL) rights management.
The company’s two shareholders namely Wichal Thongtang, a lawyer-turned-businessman, and Yingluck Vacharaphol, heiress of Thai Rath newspaper family, have assured to invest an additional THB 2.2 billion (USD 68 million). Wichit Aurareevorakul, president of CTH shareholder Charoen Cable TV 999 Co, a major lender to the company, has also confirmed to approve over THB 11 billion (USD 340 million) in the second phase of its bank loan, provided CTH raises capital.
The MSO lost THB 3.5 billion (USD 108 million) last year after securing EPL broadcast rights for 2013 for 16 seasons for THB 10 billion (USD 309 million). However, CTH is optimistic of attracting one million subscribers by year-end. CTH now has over 400,000 subscribers.
CTH secured EPL rights in late 2012 but cable TV service installation delayed due to the incompletion of its fibre-optic network. Apart from EPL, CTH has invested THB 2 billion (USD 61 million) for content from Fox International and its fibre-optic network would cost around THB 20 billion (USD 618 million).
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