Thursday, February 22, 2024

NewsHorizon

Where your horizon expands every day.

Business

Prime Media is exploring potential new platforms for their joint venture with ABS-CBN.


PRIME MEDIA HOLDINGS, Inc. is looking at expanding into other platforms via Media Serbisyo Production Corp. (MSPC), the joint venture company it forged with ABS-CBN Corp.

“According to Prime Media, MSPC President Marah Capuyan is expecting a significant achievement in the near future. This includes transitioning to round-the-clock operations and expanding their presence on platforms like YouTube and other social media networks. The announcement was made to the stock exchange on Thursday.”

TeleRadyo Serbisyo and DWPM Radyo 630 showcase the collaboration’s offerings. According to the company, the two will consistently redefine public service broadcasting, demonstrating their dedication to serving the entire Philippines and Filipinos worldwide.

The public service initiatives began functioning in June of this year.

“According to Prime Media, within a span of 90 days since its debut on June 30th, they have embarked on a remarkable journey by operating seven days a week, setting a higher standard for broadcasting in the Philippines.”

Currently, Prime Media has made Teleradyo Serbisyo accessible through cable TV. The company is confident in its operations going forward.

“According to Prime Media, the collaboration between TeleRadyo Serbisyo, DWPM Radyo 630 News Exchange, and around 30 regional radio stations across the country has greatly enhanced the dissemination of news from Luzon to Mindanao. This partnership, along with support from cable subscriptions and other collaborations, has earned the confidence of the general public and corporate entities, creating opportunities for further development in the future.”

On June 30, ABS-CBN officially stopped the broadcast of TeleRadyo, stating that the news channel has been experiencing financial losses since 2020.

Following the initial announcement, the media company listed on the stock market revealed plans to form a joint venture with Prime Media, with Prime Media taking on a majority ownership of the newly formed entity.

ABS-CBN, the recently established company, will create a variety of shows that will be distributed by external platforms and broadcasters.

On Thursday, the stocks of Prime Media and ABS-CBN remained steady at P2.82 and P4, respectively, at the local stock market. – A.E.O. Jose