In 1989, he launched IBC, a cable television company. At that time, Thaksin had a good relationship with Chalerm Yoobumrung, the minister of the Prime Minister's Office, who was in charge of Thai press and media. It is a question whether Chalerm granted the right to Thaksin to establish IBC to benefit his close friend, seeing that the project had been denied by the previous administration. However, it turned out to be a money loser and he eventually merged the company with the CP Group's UTV.