MANILA - PLDT board approved a P750-million investment in its media assets to allow the group to become a multimedia service company. Prior to that, the telco said it was investing an additional P3.6 billion to make "its media assets more visible to the shareholders of PLDT."
Pangilinan targets to complete the transaction in the next few months in preparation for the launch of TV5's all-English news channel, the CEO TV.
He said BusinessWorld would be one of the sources of business content for the CEO TV. "We need more analysis of the economic development in the country," Pangilinan said.
Asked if BusinessWorld would be integrated with InterAksyon.com, Pangilinan said, "In terms of the actual content itself there would be integration. But in terms of actual formulation of the content we want it to be an independent media company."
Pangilinan said BusinessWorld may be expanded by publishing a weekend edition. "There's a probability that we can consider a weekend edition that summarizes the news of the week. Ako ang model ko is the Financial Times. It's written very well and the analysis is very good and the language of Financial Times is excellent," he said, referring to the British financial broadsheet.
Pangilinan said the PLDT group is also in talks with the owner of Philippine Star to increase its 20 percent stake in the newspaper. As for the PDI, no similar plan to increase the PLDT group's 18 percent stake is in the cards. "We are happy naman," he said.