MediaQuest Holdings

MediaQuest Holdings
Type	Private
Industry	Mass media
Founded	1998
Headquarters	Makati, Philippines
Key people	Manuel V. Pangilinan (Chairman) ; Ray Espinosa (President and CEO)
Products	Broadcast television and radio network, Print publishing, sports broadcasting, Pay television services, Film and television production
Owner	PLDT Beneficial Trust Fund
Parent	PLDT
Subsidiaries	TV5 Network ; Nation Broadcasting Corporation ; Cignal TV, Inc. ; Hastings Holdings, Inc.

MediaQuest Holdings, Inc. is a Philippine-based media conglomerate that provides radio and television broadcasting, as well as direct-to-home satellite services and print media. Though an affiliate of telecommunications company PLDT, MediaQuest is owned by the former's Beneficial Trust Fund (corporate entity - BTF Holdings, Inc.), a retirement pension plan funded through its Philippine Depository Receipts. PLDT does not directly own any media property as the current 1987 Constitution states that media companies should be 100% owned by Filipinos and the company's major shareholders include foreign entities such as First Pacific and Nippon Telegraph and Telephone.

MediaQuest owns and operates national media firms TV5 Network (TV5) and Nation Broadcasting Corporation (NBC), as well as pay TV provider and regional radio network Cignal TV. MediaQuest also owns majority interest on newspaper companies The Philippine Star and Business World Publishing Corporation (BusinessWorld), and 30% of film production unit Unitel Group.

History

MediaQuest was established in the 1990s by PLDT through its Beneficial Trust Fund, a retirement fund agency. First with the acquisition of Home Cable, a direct-to-home cable TV subscription service and second largest cable TV company through Unilink Communications. On July 1, 2001, Home Cable merged its CATV operation to Sky Cable Corporation and created Beyond Cable Holdings, Inc. with an enterprise value of P14.5 billion. Beyond Cable Inc. controls 66.5% through Benpres Holdings and 33.5% through MediaQuest Holdings Inc.[1][2] Home Cable ceased its operations on June 30, 2005 (which was replaced by SkyCable Silver). PLDT sold its stake in SkyCable to the owner by ABS-CBN Corporation and Lopez Holdings Corporation in 2008.

In 1998, MediaQuest acquired Nation Broadcasting Corporation from the consortium of the Yabut family and then House Speaker Manny Villar.

In 2001, MediaQuest bought a controlling stake in GMA Network. This was until 2006 when an attempt to acquire GMA was failed. MediaQuest attempted again to acquire the network in 2012 but the talks collapsed.

In 2007, MediaQuest acquired GV Broadcasting Systems and its owner Satventures Inc., a direct-to-home satellite provider and radio network, from the Galang family. At the same year, it launched myTV as a mobile TV service. GV was later renamed as Mediascape, and officially launched its satellite pay TV service Cignal in 2009.

One of the biggest acquisitions was the 2010 acquisition ABC Development Corporation and blocktimer MPB Primedia Inc. from former PLDT Chairman Antonio "Tony Boy" O. Cojuangco, Jr. and Malaysia-based broadcaster Media Prima Berhad.

In 2013, MediaQuest, through subsidiary Hasting Holdings, took over and later acquires the 70% ownership share on newspaper BusinessWorld after contributing to the company's capital.[3] The group has previously acquired an 18% stake in national newspaper, the Philippine Daily Inquirer.

In 2014, MediaQuest acquired a majority stake of 51% in The Philippine Star. The Belmonte family, owners of the newspaper, retained a 21% stake, as well as management and editorial control. Pangilinan has since appointed Atty. Ray Espinosa as the company's new chairman of the board.[4]

Assets

Television and radio

TV5 Network, Inc. (formerly known as Associated Broadcasting Corporation/Associated Broadcasting Company/ABC Development Corporation) (TV5)
Nation Broadcasting Corporation (NBC)
Mediascape / Cignal TV, Inc. (Cignal) (f/k/a GV Broadcasting System)

Motion picture

Unitel Group (30%)
- Unitel Productions
- Straight Shooters
Cignal Entertainment

Print publishing

Hastings Holdings (Philstar Media Group)
- BusinessWorld (70%)
- The Philippine Star (51%)

Previous assets

Beyond Cable Holdings - sold to Benpres Holdings in 2008
- Home Cable (1999–2005)
AKTV (80% owned by TV5, 20% minority share in Viva Communications subsidiary, Viva Television) - defunct

References

http://www.philstar.com/Article.aspx?articleId=96588
"Archived copy". Archived from the original on 2011-07-23. Retrieved 2011-03-14.CS1 maint: archived copy as title (link)
PLDT Group seals takeover of BusinessWorld Archived 2013-06-18 at the Wayback Machine retrieved July 1, 2013
Agcaoili, Lawrence (1 April 2014). "MVP gets 51% of STAR". The Philippine Star. Retrieved 5 August 2014.

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[1] ttp://www.philstar.com/Article.aspx?articleId=96588

[2] "Archived copy". Archived from the original on 2011-07-23. Retrieved 2011-03-14.CS1 maint: archived copy as title (link)

[3] PLDT Group seals takeover of BusinessWorld Archived 2013-06-18 at the Wayback Machine retrieved July 1, 2013

[4] Agcaoili, Lawrence (1 April 2014). "MVP gets 51% of STAR". The Philippine Star. Retrieved 5 August 2014.