MANILA - The chairman of Philippine Long Distance Telephone Co (PLDT) said a change in leadership at TV5 is in the offing.
"Well, we are talking about it," said Manuel V. Pangilinan, who is also chairman of ABC Development Corp, when asked about the change in leadership at TV5.
While not providing details, Pangilinan however said he was "happy" about the performance of TV5 president Ray C. Espinosa. From only three percent three years ago when the PLDT Group took over the network, TV5 already enjoys a 15 percent audience share.
A business column in the Philippine Daily Inquirer earlier said Espinosa will be transferred to First Pacific Co Ltd as assistant executive director. Pangilinan is also managing director of First Pacific, which is a key shareholder of PLDT.
Expected to replace Espinosa at the helm of TV5 will be Ricky Vargas, the president and chief executive of Maynilad Water Services Inc.
Pangilinan had said TV5 will do "better" this year on improved programming. At present, the network's 19 TV and five radio stations around the country cover 88.6 percent of the national urban population.
Pangilinan said the company aims to reach 100 percent of the national urban population this year. TV5 global channels Kapatid TV5 and Aksyon International, through affiliate Pilipinas Global Network Ltd, also reach overseas Filipinos in 79 countries and territories in four continents.