MANILA, Philippines - The country's 3rd largest media network will likely break even 4 years after the group led by businessman Manuel V. Pangilinan acquired it, officials of affiliate firm Philippine Long Distance Telephone Co. (PLDT) said.
"We expect TV5 to finally break even in 2013," PLDT president Napoleon Nazareno said at a press briefing on Tuesday, May 8.
Previously, the group said they aim to break even and be in the black by 2014.
"We expect TV5 to finally break even in 2013," PLDT president Napoleon Nazareno said at a press briefing on Tuesday, May 8.
Previously, the group said they aim to break even and be in the black by 2014.
The PLDT group, through unit MediaQuest Corp, acquired ABC Development Corp, the operator of TV5 in 2009. Mediaquest spent around P5 billion to acquire the stakes of the Cojuangco group and its Malaysian partners then. Around P12 billion was budgeted for capital expenditures and programming.
TV5 currently trails behind -- but closing the gap against -- industry leaders ABS-CBN Corp. and GMA Network Inc., which operates GMA-7
GMA-7 deal
Pangilinan once said that his group and some owners of the triumvirate in GMA-7 -- Duavit, Gozon and Jimenez families -- are in "preliminary talks" to seal a potential deal.
On Tuesday, however, Pangilinan said he is "not in acquisition talks with GMA [Network]."
"From a practical perspective, do we need a 2nd television (company) to precisely achieve the [goal] of moving away from a traditional telco to a multimedia company? I mean the genre of GMA7 is similar to what TV5 is," Pangilinan said.
Higher TV5 share
Nazareno said TV5 has a market share on free TV at 15% to 17% at end-2011, a far cry from its 2.3% to 2.7% share in 2007.
TV5 CEO and president Ray Espinosa stressed, "We are targeting a 30% market share for TV5 by around 2014 to 2015."
The PLDT group is spending around P6.13 billion for the new headquarters of TV5 in Mandaluyong City.
PLDT officials said media is "key to their growth" as a company as it is their means to reach "12 million overseas filipino workers."
PLDT is the country's largest telecommunications firm that has been espousing convergence of technology and content as a business strategy. - Rappler.com, with reports from Katherine Visconti
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I like this development. Sana very soon, maging very competitive na talaga siya. Para maging parang US na tayo with 4 major networks like ABC, NBC, CBS, FOX. Na bawat araw merong network na nananalo depende sa palabas. It's possible there kasi ang shows karamihan once a week. At ang producers hindi yung mismong network. So the producers are actually competing with other producers and with the Networks other shows to avoid cancellation.
big 5 kaya sa america meron pang cw
Totally forgot about CW. Although not as huge as the other four overall, may sarili siyang unique target audience. At dito pinapalabas ang Gossip Girl, Vampire Diaries, ANTM etc.
Ang Fox number 4 siya overall I think pero nasa kanya ang isa sa pinaka-malaking shows wihich is Idol
dibale darating na si mega star sharon cuneta winner yan for sure ang ganda kaya ng teaser nung show nya...napanood ko na dati yung style nya paiyak iyak...ekekekekek pwe
CONGRATULATIONS sa GMA Films, 83% ang rating ng THE ROAD sa Rotten Tomatoes!
Galing taalga basta gawang KAPUSO!
NAKAKAHIYA na ang highest grossing film of all time sa Pilipinas eh PRAYBEYT BENJAMIN! Sobrang baduy! Sobrang cheeeappp! Pag nalaman ng mga FOREIGNERS na ayan ang highest grossing film satin eh sobrang nakakapangliit, biruin mo, walang award na cheap na pelikula ang number 1? YUCKKKKKKKK!!!!
Ibig sabihin lang nyan NAPAKADAMING BADUY SA PILIPINAS! At 70% percent ng mga baduy eh KAPAMILYA! Kaya pinilahan talaga nila ang PRAYBEYT BENJAMIN sa sinehan kc mga baduy cla gaya ng Star Cinema!!! YUCKKKKKSSSSSSSS!!!!
Eto na lang eh, flop man and THE ROAD sa Pinas pero pang Hollywood nman ang QUALITY!
Box office hits man ang mga gawang Star Cinema pero SOBRANG BADUY, JOLOGS AT SOBRANG BABA NG QUALITY naman!
Kaya, dun nako sa world-class films kahit flop, basta wag lang sa box-office JOLOGS na prinoproduce ng Star Cinema!
Hahahahahahaha!
UULITIN KO, nakakahiya pag nalaman ng mga foreigners na SOBRANG BADUY AT LOW QUALITY ang highest grossing film ng Pinas, sobrang yyyuuuuuuuuuccccccckkkkkk!!!
^
At dahil diyan sa sinabi mo, pinapatunayan mo lang na LUGI, LUBOG at Binenta na ang GMA ;))) Kawawang Kapuso fan, May sarili na silang Mundo, mundo ng Encantadia ;))) AHAHAHAHA.
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