TV5 shutting down InterAksyon by March

MANILA, Philippines — TV5 Network Inc. is closing the operations of news website InterAksyon.com by March this year in line with efforts to cut costs.

The news website’s editor-in-chief Roby Alampay said yesterday, InterAksyon.com would stop operations by end of March this year.

“TV5 will consolidate all digital news properties under news5.com.ph. That consolidation translates to a rationalization of manpower as well,” he said.

He said the move would affect around 20 regular staff or the entire InterAksyon team.

MediaQuest Holdings Inc. president Ray Espinosa said yesterday, the company is studying the possibility of continuing InterAksyon under Philstar Global and thereby consolidate all of the online news publications under the said group.

Philstar Global is the online company of the Philstar Media Group.

The plan will also apply to BusinessWorld Online.

“Accordingly, Mediaquest is working with the Philstar Global to determine the feasibility of implementing this plan in a cost efficient manner,” Espinosa said.