The broadcasting regulator has expressed confidence that existing regulations are sufficient for preventing business dominance of the media.
Thawatchai Jittrapanun, of the National Broadcasting and Telecommunications Commission (NBTC), said problems with big-business dominance and ownership of the media will become increasingly complex in the future.
However, existing regulations are sufficient to keep media ownership through share purchases under control. He said NBTC regulations governing media ownership are based strictly on the restrictions on share transfers issued by the Stock Exchange of Thailand.
In the past, purchases of shares in media firms were sometimes made by proxies to avoid monitoring, Mr Thawatchai told a discussion organised by the Thai Journalists Association and the Isara Institute in Bangkok yesterday.
His comments came on the heels of a NBTC warning to Solution Corner (1998) Plc (SLC), that it runs the risk of violating rules prohibiting owners of digital TV channels from holding more than a 10% stake in other channels.
The SLC has made a 1.18-billion-baht purchase of Nation Multimedia Group (NMG) and GMM Grammy shares.
The SLC board approved the purchase of a 12.27% stake in the Nation Group and its warrants (NMG-W1) and of 10 million newly issued Grammy shares at 13.50 baht each.
SLC is the parent company of SpringNews Corporation, operator of the Spring News channel.
The SLC has since filed a criminal lawsuit against Nation Group executives for defamation, seeking 1 billion baht in compensation for alleged damage to its reputation.
The suit was lodged after the NMG allegedly used its media outlets to claim SLC had a hidden agenda in its recent purchase of a 12.27% stake in NMG.
Jumpol Rodkamdee, chairman of the media reform panel in the National Reform Committee, said cross-media ownership is not the main issue for reform.
The panel's main concern is people are not manipulated by media outlets when information is presented to the public. Information provided should allow consumers to make a sound judgement of whatever news item is presented, he said. Punitive action should be taken against media outlets which present their reports unethically and irresponsibly, he said.