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VOV eyes VTC

Released at: 12:27, 05/12/2014

VOV eyes VTC

Voice of Vietnam is pushing to acquire the Vietnam Television Corporation.

by Thong Dat

Voice of Vietnam (VOV) is seeking government approval to acquire the Vietnam Television Corporation (VTC), a unit under the Ministry of Information and Communications (MIC).

Discussions over the takeover have been happening for some time, with VTC Director Nguyen Thanh Lam saying the company’s leaders and employees will follow arrangements made by MIC.

Deputy Minister of Information and Communications Truong Minh Tuan confirmed that a final decision is yet to be made. The ministry, he said, is considering two options. The first is to see VOV take over VTC to undertake political tasks, such as the implementation of National Assembly TV. In the second, VTC will remain under MIC. “The Prime Minister will have the final say once the decision is officially made by the Central Committee of the Communist Party of Vietnam,” he said.

At the end of 2013 VTC was split from its parent company, the Vietnam Multimedia Corporation, at the direction of the Central Committee and the Prime Minister. This process, however, is not yet completed.

The Vietnam Multimedia Corporation and VTC have faced problems in recent years. During the 2010-2012 period, VTC invested in the provision a number of major services but due to low profits suffered losses in 2011 and 2012, according to MIC reports.

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