Mon, 20 April 2015
The Phnom Penh Post
The opposition Cambodia National Rescue Party is preparing to form a company to raise funds for a “CNRP-friendly” television station that it intends to launch by the end of this year.
Party president Sam Rainsy told the Post that the party is already approaching a number of potential presenters to join the channel, which – pending a “marketing study” – is likely to be called “Sun TV”.
In addition to the CNRP-aligned Cambodian Independent Media company, which was awarded the analogue TV licence in November, the party has formed a second company to manage investments into the station.
According to Rainsy, the CNRP will “start the fundraising process by the end of the month”.
Offering a “rough idea” of the time and scale of the process, he said 3,000 shares could be issued at $1,000 a piece, meaning that “$3 million could then be raised in the next few months”.
Rainsy, who is to tour the US for three weeks in May, said Cambodians living overseas are also prospective shareholders in what could be the first publicly-owned TV station in the Kingdom.
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