Thailand’s GTH To Be Broken Up

GTH, one of Thailand’s leading entertainment conglomerates, is to dissolve following a dispute between the owners.

The company was formed in 2003 from the merger of GMM Pictures, Tai Entertainment and Hub Ho Hin, but will break into its constituent parts from Dec. 31 the company said in a notice on its website.

It said that the group was preparing to launch an IPO, but that Hub Ho Hin held strong objections to the proposed move. Hub Ho Hin felt that it would not be ready any time in the next 1-3 years and that a stock market listing would create undue financial pressures.

Films in the production pipeline will continue to be released under the GTH label though 2016 and GMM will administer the pictures until the three subsidiaries appoint representatives to take over the rights.

Recent film hits have included “ATM Errak Error,” “Pee Mak,” “Freelance,” “May Who?” and TV series “Hormones.”

“There are a lot of paths to moving forward. I am thinking positively that three or four new GTHs might be born. And Thai movies will grow a lot more from this point on,” said CEO Visute Poolvoralaks at a news conference, quoted by Thai media.

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