Thai pay-television operator Cable Thai Holdings, a major sports broadcaster in the country, is set to close by the end of the month, according to the Bangkok Post.
The Thai newspaper’s report cited a source at peer-to-peer video streaming platform PPTV, which had held a sublicence contract with CTH across the 2015-16 season of the Premier League, the top division of English club football.
The source said CTH has amassed substantial losses and will lay off its staff of 100 in the next two weeks. CTH held rights to the Premier League in Thailand across the 2013-14 to 2015-16 seasons, while it also holds rights to the ongoing Uefa Euro 2016 national team tournament.
However, the Post said it has struggled to attract enough subscribers and advertising revenue. These factors led it to striking sublicensing deals with other operators for both the Premier League and Euro 2016.