The boss of True Corporation insists that the group will continue to develop its stagnant pay-TV business amid mounting speculation of a pull-out.
Chairman Suphachai Chearavanont denied that the subscription TV service's days are numbered, dismissing such talk as "pure rumour".
"I still believe that broadcast services via the cable platform will not become obsolete for at least two decades, with our business development to continue as usual," he said.
TrueVisions, the cable TV arm of True Corporation, is facing heavy criticism from unhappy subscribers and some consumer protection authorities after removing six entertainment channels owned by HBO from Jan 1 as the cable operator claimed it lost the rights to air them.
The company's bid to renew the subscription was said to exceed US$9 million to broadcast HBO programming.
TrueVisions lost another of its most popular programmes a few years back when it was outbid for English Premier League football.
Mobile leader Advanced Info Service has secured the rights from the US company to broadcast HBO's TV channels on its IPTV and over-the-top (OTT) platforms for an undisclosed amount.
Mr Suphachai said increasing its renewal bid price was unacceptable and inappropriate given heavy complaints from its customers about HBO repeating the same movies in its programming.
More importantly, he said TrueVisions wanted to secure only the HBO HD channel, but the US company insisted on a bid for the whole package of six channels including Cinemax, HBO Family, HBO Signature, HBO Hits and Red by HBO.
TrueVisions replaced HBO's content with programming from Paramount, Sony, Universal, Fox Action Movies, and True-owned HD channels, which some subscribers say are not the same quality or standard as HBO.
"We are on the verge of replacing HBO's content with HD programming from famous studios as we strive to reduce our heavily reliance on costly programming licensed by foreign studios," Mr Suphachai said.
He said several hundreds of subscribers have terminated their TrueVisions service.
TrueVisions has 1.4 million subscribers and remains profitable, supported by Generation X customers (born 1961-81), the company's prime customer base.
Mr Suphachai acknowledged that OTT service, including voice-over-IP, instant messaging services, and streaming video, has become a thorn in the side of TrueVisions.
But he said OTT is not a new problem and has been promoted for at least a decade, with a tug-of-war taking place over cybersecurity and privacy issues, lack of provisions for legally approved surveillance, and no checks for risk assessment and apps at app stores.
He said True plans to relaunch its IPTV service soon through its True TV Box.
In related news, Mr Suphachai said True Move, the mobile flagship of True Corporation, plans to spend at least 20 billion baht in 2017 to expand its networks for 4G and fixed-line broadband coverage and capacity.
He said True's new management structure, in which Vichaow Rakphongphairoj and Adhiruth Thothaveesansuk have been appointed as co-presidents at True Corporation, would help True accelerate business growth and reach goals faster.
Having two people share the position of president will strengthen decision-making in a rapidly changing threat environment and fast-changing digital era, Mr Suphachai said.