SET-listed Plan B Media Plc, an out-of-home media company, has acquired a 50% stake in Bright Sky Media Co for 30 million baht to expand its advertising space at local airports.
The Bright Sky acquisition is the fourth deal for Plan B after Triple Play, The One Plus and Tuna Advertising.
The latest acquisition is meant to cement its position as the leading media space provider at airports.
Plan B invested in Bright Sky through its wholly-owned subsidiary Master Standard Display Co.
After investing in the four companies, their combined media space capacity is 200 million baht a year covering six major airports operated by Airports of Thailand Plc (AoT) and 25 airports under the auspices of the Airports Department, a company statement said.
For its part, Bright Sky provides media space at 22 airports operated by both AoT and the Airports Department. Its media space capacity is valued at 70 million baht a year covering touch screens, digital screens, big billboards, LED boards and ad space on trolleys.
Last year, Bright Sky posted a net profit of 2.35 million baht on revenue totalling 33.8 million, up from a net profit of 0.96 million baht from 18 million in revenue for 2014.
"Advertisements at airports are well placed to attract attention from both local people and foreign tourists," said Pinijsorn Luechaikajohnpan, managing director of Plan B.
Moreover, the Thai tourism business is booming and foreign tourist arrivals to Thailand are set to rise to more than 30 million this year, up from 29.8 million last year.
During the first half, Plan B posted a net profit of 171 million baht from revenue totalling 1.17 billion. Its full-year revenue is projected at 3 billion baht, up from 2.17 billion last year.
PLANB shares closed yesterday on the Stock Exchange of Thailand at six baht, down 15 satang, in trade worth 29.3 million baht.
