Mediaquest eyes other broadband companies in Asia Pacific region

MANILA, Philippines - Mediaquest, Philippine Long Distance Telephone Co.’s media arm, is exploring the possibility of acquiring other broadcasting companies in the Asia Pacific region.

PLDT chairman Manuel Pangilinan revealed yesterday that following their acquisition of a 75-percent controlling stake in ABC Development Corp., the owner and operator of broadcasting company ABC Channel 5, for less than P5 billion, they have been approached by a number of investment banks from the region.

The offers from these banks include the possible acquisition of television stations within the region, he said.

Pangilinan said they are also in discussions with television stations owned by businessman Anthony Salim, chairman of Hong Kong-based First Pacific Co., on possible tie-ups. “This includes the possibility of Mediaquest investing in these TV stations,” he revealed.

He expressed optimism about the future of broadcasting in the country. “We could even export our Filipino talent,” he said.

Aside from ABC-5, Mediaquest also acquired Primedia, a local corporation engaged in developing programming content for television and marketing of airtime, specifically for TV5.

Mediaquest is a wholly owned subsidiary of the PLDT Beneficial Trust Fund (BTF), which, in turn, is wholly owned by PLDT.

Pangilinan said they are acquiring a “clean” company, as the owners of ABC-5 promised to rid the television network of its debts.

PLDT’s top executive earlier visited the ABC-5 station in Novaliches. The latter has about 260 to 280 employees, according to Pangilinan.

Asked about his plans for ABC-5, he said that their ambitions for the network are “modest and limited,” even as he added that ABC-5 is currently a strong number three, in an industry dominated by ABS-CBN and GMA Network.

Mediaquest earlier said the investments in ABC-5 and Primedia are in line with its strategy of developing media, content, and production resources to complement its other media assets and platforms such as Cignal, a direct-to-home satellite service launched in July this year.

Pangilinan added that by investing in both ABC-5 and Primedia, Mediaquest expects to further enhance TV5’s programming, ratings, and sales as well as improve the broadcast network’s coverage and signal strength throughout the country.