GMA Network, Inc. launched Monday night free-to-air news and public affairs channel GMA News TV, going ahead of TV5 which is planning to launch its own news and sports channel.
Felipe L. Gozon, GMA Network chairman and chief executive officer, told reporters the news channel is an effort to stop losses from lifestyle and entertainment channel QTV on Channel 11.
QTV 11 posted more than P100 million in loss last year. At the most, the company lost around P200 million to P300 million from operating QTV 11.
Mr. Gozon said no advertisements have been booked yet on GMA News TV, which will take the place of QTV on Channel 11 starting Feb. 28.“Relative to QTV 11 and other channels, GMA News TV will have a more serious programming line-up. There is news every hour, on the hour,” he said.
Mr. Gozon said planning for the new channel format started July last year. GMA Network has doubled the number of its news teams, but there was “no major investment involved.”
“We expect the channel to bring in profits next year,” he said.
Rival ABS-CBN Corp. operates the ABS-CBN News Channel and Teleradyo on cable. Manuel V. Pangilinan-led TV5 earlier announced it would launch this month Aksyon TV on Channel 41 as the network’s free-to-air news and sports channel.