Mediaquest expects accord on Indosiar stake this year
() - January 24, 2011 - 12:00am

MANILA, Philippines - Mediaquest , the media outfit owned by the PLDT Beneficial Trust Fund, expects to reach an agreement within the year for the acquisition of a stake in Indosiar, a leading Indonesian television station owned by the Salim group.

The Salim group also controls Hong Kong-based First Pacific Co., which owns a controlling stake in the Philippine Long Distance Telephone Co (PLDT).

PLDT chairman Manuel V. Pangilinan said on the sidelines of yesterday’s launch of TV 5’s Media Center groundbreaking that First Pacific chairman Anthoni Salim is open to the idea of either Mediaquest or its wholly owned broadcasting network TV5 investing in Indosiar. “We have been talking to him for sometime now. Within the year, we expect that we can have an agreement with him,” Pangilinan, who is also managing director and CEO of First Pacific, revealed.

Indosiar’s parent company PT Indosiar Karya Media Tbk is a member company of the Salim group conglomerate to which First Pacific also belongs to. Pangilinan emphasized that TV5 should expand its wings, adding that with its huge talent pool, it would be a waste of it will not be able to export its talents both physically and in terms of its shows.

Earlier, TV5 president Rau Espinosa explained that the amount of investment by TV5 into Indosiar as well as other details of the investment have yet to be threshed out.

He added that this venture will allow TV5 not only to have a presence in Indonesia but also the rest of the region as well.

He said that their vision for TV5 is to become pan-regional multi-media company with presence all over the Asia-Pacific region.

TV5 earlier said that with Indonesia being the fourth most populous country in the world, the investment in Indosiar will surely fuel the organization’s aim to be the multimedia leader in Asia.

But aside from being a regional player, Espinosa emphasized that they are also going international, offering programs meant for overseas Filipinos.

He revealed that TV5 is forming an international company in joint venture with PLDT that will be responsible for marketing, distribution, and sale of content to other countries, whether it be through satellite, cable, and IPTV or web TV.

The new company will be offering a “Filipino” channel of TV5 to countries with huge population of Filipinos, such as in the United States for North America, Japan, Europe, and the Middle East. Rivals ABS-CBN Broadcasting Corp. offers The Filipino Channel (TFC) while GMA Network has Pinoy TV and GMA Life.

For his part, Pangilinan said the plan is for the international channel to be on air by May. “We are also putting together a team that will put up and run our international operations,” he added.

TV5 yesterday held the groundbreaking ceremonies for its new media center at the corner of Reliance and Sheridan Streets in Mandaluyong. The first phase which will involve the construction of the news department will be finished by fourth quarter this year, while the entertainment group will be moving from Novaliches to the new studios next year. “By middle to late 2012, everything will be finished,” he said.

ANTHONI SALIM BENEFICIAL TRUST FUND BROADCASTING CORP FILIPINO CHANNEL FIRST PACIFIC FIRST PACIFIC CO HONG KONG INDOSIAR PANGILINAN SALIM TV5
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with