ABC Development Corporation

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This article is about the Filipino media company. For the television network, see TV5 (Philippines). For other uses, see ABC.
ABC Development Corporation
Type Subsidiary
Industry Media company
Predecessor(s) Associated Broadcasting Corporation (1960-1972)
Founded June 19, 1960
Founder(s) Joaquin "Chino" Roces
Headquarters TV5 Media Center, Reliance cor. Sheridan sts., Mandaluyong City, Philippines
Key people Manuel V. Pangilinan (Chairman)
Emmanuel C. Lorenzana (President and CEO)
Products TV5, AksyonTV, AKTV (sold to IBC-13 and PCOO), Kapatid TV5, Aksyon TV International Radyo5, Colours, Hyper, Weather Information Network, Kristn.com, Balut Radio, News5 Everywhere.
Services radio and TV broadcasting, film and tv production, direct-to-home satellite, sports, news, entertainment, websites, pay per view
Revenue Increase PHP 2.31 billion[1] (FY 2011)
Total assets Increase PHP 8.84 billion (FY 2012)[1]
Parent Philippine Long Distance Telephone Company
(MediaQuest Holdings, Inc.)
Divisions News5
Sports5
Website tv5.com.ph

ABC Development Corporation (also known as Associated Broadcasting Company) is a Filipino-owned media company based in Mandaluyong City, Philippines. The company was spearheaded by the late Edward Tan, broadcasting and advertising veteran in 1992, when he led a group of investors that revived the Associated Broadcasting Corporation which was founded by Joaquin "Chino" Roces on June 19, 1960. Presently, it is owned by MediaQuest Holdings, Inc., a wholly owned subsidiary and part of the beneficial trust fund of the Philippine Long Distance Telephone Company headed by business tycoon Manuel V. Pangilinan.

Among its assets are the broadcast television networks TV5 and AksyonTV, and the radio network Radyo5 92.3 News FM, satellite television channels Colours, Hyper and Weather Information Network, and media portals Kristn.com, Balut Radio and News5 Everywhere.

History[edit]

Origin[edit]

Joaquin "Chino" Roces, owner of the Manila Times was granted of a radio-TV franchise from Congress under Republic Act 2945 on June 19, 1960. He then founded the Associated Broadcasting Corporation and the channel "ABC 5" with the call sign DZTM-TV and its first studios along Roxas Boulevard, becoming the fourth television network established in the country. ABC operated radio and television services from 1960 until September 21, 1972 when President Ferdinand E. Marcos declared Martial Law. Both ABC and the Manila Times were forcibly shut down as a result.

Revival[edit]

After the People Power Revolution in 1986, Chino Roces made a successful appeal to President Corazon Cojuangco-Aquino for the restoration of the network.

New stockholders led by broadcast veteran Edward Tan and Chino Roces's son Edgardo then began the arduous task of resuming broadcasts. The Securities and Exchange Commission granted their application for an increase in capitalization and amendments to ABC’s articles of incorporation and by-laws. They were subsequently granted a permit to operate by the National Telecommunications Commission (NTC).

ABC inaugurated its new studio complex and transmitter tower in San Bartolome, Novaliches, Quezon City in 1990, which was used until 2013; and began test broadcasts by the end of 1991; officially returning on air as the ABC-5 on February 21, 1992, with ABC Development Corporation as the new corporate name. Its radio counterpart, Kool 106.7 was launched at the same time. Later, it acquired a new franchise to operate on December 9, 1994, under Republic Act 7831 signed by President Fidel V. Ramos.

In 1999, ABC was awarded the channel 47 frequency in Metro Manila, the last remaining UHF frequency in the market, with a powerful transmitting capacity, christening it DWDZ-TV. However, has been inactive since 2003.

Cojuangco era[edit]

In October 2003, ABC was acquired by a group led by businessman Antonio "Tonyboy" Cojuangco, Jr. served as Chairman of the Philippine Long Distance Telephone Company (PLDT) from 1998-2004 and owner of Dream Satellite Broadcasting and Bank of Commerce, among other assets.[2]

Its biggest achievement was when its flagship channel, ABC, won as the "Outstanding TV Station" award at the 2005 KBP Golden Dove Awards, with several other programs on the network also earning awards in their respective categories.

In early 2007, ABC suffered a setback when it implemented a series of budget cuts, primarily directed towards its news department, which laid off most of its employees.

On 2008, ABC-5 was rebranded as TV5 as it enters a partnership with MPB Primedia Inc., a local company backed by Media Prima Berhad of Malaysia as part of a long-term strategy to make the station more competitive. This caused the revitalization of its ratings from 1.9% in July 2008 (prior to the re-branding) to 11.1% in September 2009.[3]

Acquisition by PLDT[edit]

On October 20, 2009, Media Prima announced that it would be divesting its 70% share in TV5 and selling it to the Philippine Long Distance Telephone Company's broadcasting division, MediaQuest Holdings, Inc. to recover its assets from the global financial crisis. It was formally acquired on March 2, 2010 as announced by PLDT chairman Manuel V. Pangilinan. TV5 was reformatted on April 4, 2010 with a new lineup of programming and branding as the "Kapatid" ("sibling") network.[4] Dream FM was retained under Cojuangco management with TV5 as licensee until June 2011.

On October 1, 2010, TV5 took over the management of MediaQuest's Nation Broadcasting Corporation stations; DWFM was re-launched as a TV5-branded news radio station on November 8, 2010, Radyo5 92.3 NewsFM, and DWNB-TV was re-launched as AksyonTV on February 21, 2011, a news channel based on TV5's newscast Aksyon.[5][6]

In June 2011, Sports5 began a deal with the Intercontinental Broadcasting Corporation to produce sports programming for the network under the brand AKTV. The blocktime deal ended on May 31, 2013.[7][8]

Through co-owned Pilipinas Global Network Ltd., international channels Kapatid TV5 and AksyonTV International were launched in April 2011. The channels were available in Europe, Middle East, North Africa, Guam, and the United States.

Through affiliate Cignal, the network launched its own satellite television networks: lifestyle channel Colours, sports channel Hyper, and Weather Information Network (now defunct). The channels were launched on April 14, 2012.[9]

TV5 has also entered the social media space as it launched its online lifestyle site Kristn.com. The network launched an Pinoy online music portal Balut Radio and news video content site News5 Everywhere.[10]

ABC Development Corporation CEO, Rey Espinosa, will set to step down to assume his new post as Associate Director of the First Pacific Company Ltd., PLDT's majority owner. He will be replaced by Noel C. Lorenzana, the current Head of the Individual Business for the PLDT Group. The move was done on June 1, 2013.[11]

By December 23, 2013, the network relocated and began broadcasting from its new headquarters, the 63,000-sqm TV5 Media Center located in Reliance, Mandaluyong; vacating its Novaliches complex, which is in use from 1992, as well as its studios in Delta Theater (Quezon City), Broadway Centrum (New Manila), Marajo Tower (Bonifacio Global City) and the PLDT Locsin Building (Makati). The transmitter of TV5 remained in Novaliches area. Phase 1 already completed while Phase 2 of the building is under construction.[12][13][14]

Subsidiaries[edit]

References[edit]

  1. ^ a b "TV5 losses double to P4.1B in 2011". The Philippine Daily Inquirer. Retrieved 8 August 2012. 
  2. ^ "Cojuangco, Tan set to sign ABC-5 deal". The Philippine Star. September 23, 2003. Retrieved 2 June 2013. 
  3. ^ AGB-NMR
  4. ^ "Revamped TV5 parades new programs and roster of stars at its trade launch". Philippine Entertainment Portal. 26 March 2010. Retrieved 8 August 2012. 
  5. ^ "TV5 allocates P10b to battle ABS-CBN, GMA-7". Manila Standard Today. Retrieved 8 August 2012. 
  6. ^ "TV5 claims to be No. 2". BusinessWorld. Retrieved 8 August 2012. 
  7. ^ "TV5 airs primetime sports block AKTV on IBC-13". The Philippine Star. Retrieved 8 August 2012. 
  8. ^ "Athletes and TV5 celebs to grace AKTV Run Sunday morning". News5. Retrieved 8 August 2012. 
  9. ^ "Cignal forges on with the most HD channels nationwide launches original premium offerings". News5. Retrieved 8 August 2012. 
  10. ^ [1] ‘Kristn’ paves way for TV5′s charge into digital revolution
  11. ^ Lorenzana is new head of Mediaquest, TV5, as Espinosa moves up to First Pacific retrieved April 23, 2013
  12. ^ "TV5 Media Center Groundbreaking Coverage". New Media Philippines. Retrieved 8 August 2012. 
  13. ^ "Kapatid network’s new home". PhilStar.Com. Retrieved 21 December 2013. 
  14. ^ "Bagong Tahanan ng TV5 sa Mandaluyong, Silipin". News5 Everywhere. Retrieved 21 December 2013.