MANILA, Philippines – Broadcast firm TV5 intends to put more focus on news and sports under a new head as it looks to break even by 2019.
“Most likely, we’ll focus on news and sports, maybe with a bit of entertainment. But basically, the emphasis should be on news and sports,” TV5 chairman Manuel V. Pangilinan told reporters.
He also said the firm is still hopeful it could achieve break even by 2019.
TV5 was initially looking to break even by 2017, but the target has been pushed back to 2019.
Former PBA coach Vincent “Chot” Reyes has been named as the new president and CEO of TV5 effective Oct. 1.
Reyes is replacing Emmanuel Lorenzana who is retiring from the post.
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As TV5 is looking to put more focus on sports shows, Pangilinan said Reyes’ experience would be beneficial to the company.
“He is very digital, it turns out. You wouldn’t expect a coach to be so digital but he is very digital so, he now heads the digital initiatives of TV5. He’s been, not only for TV5, but also other parts of the group which require digital content especially, video content. He’s been helpful in other parts of the group,” he said.
MediaQuest Holdings Inc., the multimedia arm of PLDT Inc., acquired TV5 in 2009.