MANILA, Philippines — Interaksyon.com, which is now under digital media company Philstar Global Corp., has started its operations with a new mission: to reframe online conversations.
In a country considered as the world's social media capital, the new Interaksyon tells stories that seek to engage its readers to discussions on crucial points sometimes missed in social media exchanges.
Philstar Global runs Philstar.com, a top news website and leading digital news venture in the country. It is the online arm of Philstar Media Group.
“Philstar Global hopes to expand and build on the legacy of the original news portal of TV5 Network Inc. by adopting a similar formula that worked so well for Philstar.com,” said Kevin Belmonte, Philstar Global’s president and CEO.
The change in ownership of the Interaksyon brand and digital platform was a result of TV5’s decision to recalibrate its strategy for its digital news properties.
Last October, TV5 launched a multimedia brand and content collaboration with sports network ESPN. The move was part of TV5’s plan to reinforce its position as a sports and news channel.
TV5 President Vincent "Chot" Reyes early this year said the company aims to further trim its EBITDA loss by 50 percent, after having reduced it by 43 percent in 2017.
Hastings Holdings Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings Inc., has a controlling stake in Philstar Media Group, which includes leading broadsheet The Philippine STAR and top business newspaper BusinessWorld.