MANILA, Philippines - TV5 Network Inc. is open to taking in investors and partners as it looks to grow its content offering and revenues.
“We are very open to investors, to partners, to different kinds of forms and functions,” TV5 president and CEO Vincent “Chot” Reyes told reporters.
In finding investors and partners, Reyes said it is important the parties could provide not just investments but add value to the business as well.
“They have to be able to add real value. Not financial value but real value in this business whether that’s media, production or what have you, they have to be able to add that,” he said.
Reyes also said TV5 is in talks with both local and foreign firms that could serve as partners, but declined to name them.
The network is interested in taking in investors and partners as it is set to implement a strategy which seeks to increase revenues, grow the content offering and make operations more efficient under a new leadership.
Reyes who assumed his post as new head of TV5 last Oct.1 said the company wants to focus on providing content covering sports, news, as well as original entertainment different from what is available in other networks.
“We are really pivoting from thinking of ourselves as a TV network into really a content company,” he said.
As TV5 prepares to beef up its capability to produce new shows, the network has modified its program lineup by airing popular American series and doing away with producing telenovelas and dramas.