Mcot staff questions EPL TV deal
- Published: 19/06/2013 at 09:11 PM
- Online news:
Employees of Mcot Plc demanded clarification over the decision pushed by chairman Sutham Saengprathum and his deputy to purchase the rights to broadcast English Premier League (EPL) football matches on Modern 9, claiming a lack of transparency and profitability.
An Mcot source said a pending deal calls for Mcot to pay Cable Thai Holding (CTH) 480 million baht for the rights to broadcast 17 EPL football matches a year for the next three years - 160 million baht annually.
Mr Sutham pushed the deal despite a study by the marketing team, assigned by Mcot president Anek Permwongsenee, that found the company would not be able to sell enough commercials to generate profit on the deal, the source said.
Despite the study, Mr Sutham and Chakrapan Yomchinda, a vice chairman, pushed hard for the agreement.
CTH has exclusive rights in Thailand to broadcast EPL matches for the 2013-2015 seasons.
Mr Sutham and Mr Chakrapan on Tuesday arranged an executive meeting, without informing Mr Anek, to discuss preparations to unveil the deal to the public, according to the source.
The two met with Mcot union members on Wednesday. They predicted income of 170 million baht from advertising in the first year, and said they would discuss the other two years later.
The source quoted Mr Sutham as saying that he would explain all details to Mcot staff after the board approved the deal next Tuesday.
Mcot employees lodged a complaint to Mr Anek on Wednesday, stating they wanted the agreement to proceed openly because, as stakeholders, they also will be affected by the costly deal.
They also wanted to know why they have to wait until next Tuesday for details, instead of being informed before the board members.
Mr Chakkrapan said he did not have time to explain to the Mcot staff because the deal's deadline of June 30 was fast approaching. He said he would take full responsibility.
"There is no need to worry, the purchase will yield profits, I guarantee,'' he said. ``[Mcot staff members] do not have to worry because I will take full responsible if anything goes wrong."
About the author
- Writer: Pradit Ruangdit