Nation Group restructuring to synergise for ‘big year’ in 2023
Nation Group announced on Friday that it is restructuring to synergise management in all sectors and maximise content production in line with its “One Nation” strategy.
Under the new set-up, Nation Group will be at the top of the management tree with media outlets like Krungthep Turakij, Spring News, Khobsanam, Thainews, OK Nation, The People, Nation TV, The Nation, and Kom Chad Luek underneath it.
With this new hierarchy, each media outlet will be managed by its own editorial team and generate revenue on its own.
“Each media outlet’s editorial team will manage content, news and facts for readers. These teams are like kitchens – free to produce and provide content and news for consumers,” Nation Group’s chief executive Shine Bunnag explained.
This restructuring will also help reduce the group’s expenses and management burden, he added.
Nation News Agency (NNA) has also been revived to produce content and support other media outlets working on three key platforms – online, TV and print. Outside the three main platforms, there are also out-of-home media and on-ground events.
The group will also adapt to boost its digital performance, starting with the issuing of digital tokens. Nation Group has appointed Future Competere, which has expertise in issuing tokens and blockchain technology, as an adviser for the transformation.
“The organisation has invaluable content and old images that can be converted into non-fungible tokens [NFTs],” Shine said.
Nation Group is also shifting its focus to documentaries as part of its new business model. Shine said all content produced by the organisation’s media outlets should be beneficial and utilised for analysis, business operation and daily life.
“If we produce content that is like poisoned fruit … it will distort society,” he said, adding that Nation Group will continue lifting the lid on controversies, especially corruption.
He added that 2022 will be a year of synergising for the group, while 2023 will become the year of moving forward.
“We must all hold hands tightly to create maximum unity and synergy. Once the rope is tightly woven, it will automatically strengthen the organisation,” he said.
Nation Group is expected to generate good profits and turnover for shareholders and create sustainability for employees across the network.
Though the media organisation has not been quick in transforming itself for the digital era, its focus has always been on premium content, he said.
“Nation Group has been part of Thai society for more than 50 years and we have always adhered to the ideology of being a media outlet that focuses on the code of ethics and quality. This is the path we have always adhered to and always will,” he said.
To advance its One Nation strategy, Nation Group announced the purchase of Nation TV 22 and Kom Chad Luek worth Bt461 million in total, and the sale of 691 million shares or 61 per cent of Nation Broadcasting Corporation (NBC) to Boonuea Chitthanom and Natthaphong Sitaworarat at Bt1.30 per share in a deal worth Bt898.3 million. Boonuea and Natthaphong are major shareholders of One to One Contacts Plc.
