2013 • Center for Media Freedom & Responsibility
On May 28, ABS-CBN Convergence, Inc., a subsidiary of ABS-CBN Corp., told the Philippine Securities and Exchange Commission that it had signed a network sharing agreement with Globe Telecoms which they said would enable ABS-CBN to deliver “content and offer traditional telecoms services on mobile devices.”In a press release, ABS-CBN said that “through the network-sharing agreement, Globe will provide capacity and coverage on its existing cellular mobile telephony network to ABS-CBN Convergence on a nationwide basis. The parties may also share assets such as servers, towers, and switches.”The Lopez-owned telco Bayan Telecommunications, Inc. is under a debt restructuring plan with Globe. Globe said that the Pasig City Regional Trial Court Branch 158 had allowed the amendment of the plan converting 69 percent of Bayan’s debt to 56.6 percent of Bayan’s capital stock for Globe.
ANC-YAHOO CONTENT PARTNERSHIP
Meanwhile, cable channel ABC-CBN News Channel (ANC) and online search engine and web service group Yahoo! Philippines announced on July 18 a content partnership.The partnership allows ANC to push its content online through a dedicated microsite (http://anc.yahoo.com) in the Yahoo! platform. The page went live on July 22 for the coverage of the fourth State of the Nation Address of President Benigno S. Aquino III.Yahoo! Philippines country manager and editor Kate Delos Reyes said in an
report that “This partnership is a true online and on-air collaboration that aims to reinvent how consumers access news across screens.” (“ANC, Yahoo! Phils forge content partnership, July 18, 2013”, http://www.interaksyon.com/business/66682/anc-yahoo-phils-forge-content-partnership)Yahoo! has a separate news service in the Philippines which also carries content from other local news organizations. The content partnership with ANC is the irst outside the US, said Yahoo! Philippines.
• Timeline: PLDT acquisition talks with GMA7. Oct. 4, 2012. Retrieved from http://www.interaksyon.com/business/44729/timeline-pldt-acquisition-talks-with-gma7• Pangilinan, M. (April 9, 2006). My journey. Retrieved from http://philstar.com/sunday-life/330648/my-journey• GMA Network, Inc. Corporate Proﬁle. Retrieved from http://www.gmanetwork.com/corporate/about/overview• Philippine Daily Inquirer History. Retrieved from http://inquirer.dqs.com.ph/index.php/about-us/history• Metro Paciﬁc Investments Corp. website. Retrieved from http://www.mpic.com.ph/site/• First Paciﬁc Company Ltd. Website. Retrieved from http://www.ﬁrstpaciﬁc.com/• Lopez Holdings Corp. website. Retrieved from http://lopez-holdings.ph/• SEC reports and PSE disclosures of one or more of the following: GMA Network, Inc., MediaQuest Holdings Inc., ABS-CBN Corp., PLDT, BusinessWorld Publishing Corp., Inquirer Publications Inc., Inquirer Holdings Inc., Phil Star Daily Corp., Manila Bulletin Publishing Corp.
’s shareholders had earlier approved an increase in capital, Pangilinan was quoted as saying in a June 14 report on
. (“PLDT Group seals takeover of BusinessWorld,” June 14, 2013, http://www.interaksyon.com/business/64096/pldt-group-seals-takeover-of-businessworld) This was further conirmed in an August 7
report, which said the MVP group had formalized the acquisition of the majority stake in
with the infusion of fresh capital. (“MediaQuest gains control of BusinessWorld,” http://www.philstar.com/business/2013/08/17/1098901/mediaquest-gains-control-businessworld)Ray Espinosa, former president of TV5, told the
that “MediaQuest has exercised its pre-emptive right to subscribe to 30 million new shares of BusinessWorld. MediaQuest has also agreed to subscribe to 70 million new shares of BusinessWorld, which were not taken up by other shareholders.” (“MediaQuest gainst control of BusinessWorld,” August 17, http://www.philstar.com/business/2013/08/17/1098901/mediaquest-gains-control-businessworld)The MVP group had acquired a minority stake in
in 2004. Prior to the acquisition, MediaQuest held only a 30 percent share in
. (Business and beyond, July 5, 2013, http://www.bworldonline.com/content.php?section=SpecialFeature&title=Business-and-beyond&id=72929)The BWPC board also approved the appointment of Ray C. Espinosa, the former president of TV5, as chairman, while Barbara Locsin and Arnold Belleza were replaced as directors. Belleza will remain as executive editor, while Locsin will join the board of advisers. Publisher and chairman of the editorial board Vergel O. Santos was earlier retained. But Santos iled his resignation. (See sidebar “BusinessWorld Changes Hands: The End of an Era.”)
THE PHILIPPINE STAR
In late 2012, Pangilinan announced his revived interest to increase his stake in the
, conirming to members of the press that his group was engaged in talks with the Belmonte family, the majority stock holders of the news daily. (“PLDT pushes plan to raise stake in ‘Star’,” Dec. 19, 2012, http://www.businessmirror.com.ph/index.php/en/news/top-news/6086-pldt-pushes-plan-to-raise-stake-in-star)The MVP group was looking to acquire 80 percent of the
, said Mike Toledo, head of the Pangilinan group media bureau. He told the
that “the group will also control afiliates of the Star. This is part of the MVP group’s convergence strategy and evolution into a multimedia service company.” (“Pangilinan group to acquire Philippine Star,” July 20, 2013, http://business.inquirer.net/133497/pangilinan-group-to-acquire-philippine-star)The MVP group already owned 20 percent of The Star Group of Companies which publishes the news dailies the
Pilipino Star Ngayon
as well as the lifestyle magazine
. It also publishes the Cebu-based newspapers
.MVP’s efforts to acquire the
irst made headlines in January 2009.
ABS-CBN-GLOBE NETWORK SHARING DEAL
Meanwhile, corporate mergers continued in other areas of the news media, as ABS-CBN clinches partnerships with a telecommunications and an online service company.
MEDIA MOGULRY REDUX