Workpoint, PSI launch satellite station

Workpoint Entertainment Plc, a listed TV production house, has joined hands with PSI Holdings, the satellite dish provider, to run a satellite TV station and cash in on the growing sector.

Both sides see opportunities in satellite TV both domestically and abroad when Asean becomes a single market in 2016.

Free Size Broadcasting Limited was recently set up with registered capital of 100 million baht. Workpoint and PSI each hold a 50% stake.

Panya Nirundkul, the chief executive of Workpoint, said the company will handle all entertainment content for television programmes, movies, concerts, animation, publications, and events using its recording studios at Free Size Broadcasting. PSI will be responsible for the satellite platform and network.

Free Size Broadcasting will spend 100 million baht to prepare content and facilities for the new satellite TV channel slated for February next year.

"The Asean Economic Community [AEC] will facilitate doing business in the Asean region, and Thailand is watched closely by many international content providers as they consider expanding their business here," said Somporn Teerarochanapong, CEO of PSI Holdings.

The addition of content should allow PSI to grow its business faster than in the past using a multimedia platform.

PSI earlier partnered with TrueVisions to allow content from the pay-TV platform to be aired on its C-band satellite network.

Shares of WORK closed yesterday on the Stock Exchange of Thailand at 32.50 baht, up one baht, in trade worth 26 million baht.

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Writer: Pitsinee Jitpleecheep
Position: Business Reporter