Bloomberg and Cignal TV to launch first 24-hour business news channel in the Philippines
Manila, March 25, 2015 — Bloomberg Television today announced a partnership with Cignal TV, Inc. (“Cignal TV”), a leading media company in the Philippines, to create Bloomberg Television Philippines. Cignal TV is a subsidiary of multi media conglomerate, Media Quest Holdings Inc, (“MediaQuest”), which in turn is wholly owned by the Beneficial Trust Fund of the Philippine Long Distance Telephone Company (“PLDT”), the largest telecommunications company in the Philippines.
Bloomberg Television Philippines is scheduled to launch in 2015.
“This partnership with Bloomberg Television heralds a new era in Philippine television, in which business information is set to be in the front and center of a rising Philippine economy,” said Manuel V. Pangilinan, Chairman of PLDT. “This also comes at the time when we are expecting to become the country’s biggest Pay-TV service provider with more than one million subscribers by the end of this year.”
Presented in English, this local extension of Bloomberg Television will expand the reach of Bloomberg’s fast, accurate and market-moving news to one of the fastest growing, English-speaking economies in the world. It will be distributed exclusively via Cignal Digital TV, the Philippine’s premier direct to home (“DTH”) satellite provider with around 844,000 subscribers. Cignal Digital TV currently has 97 channels, including 27 high-definition channels.
“The Philippines is fast becoming a premier broadcast destination because of its strong subscriber growth,” said Gary Groenheim, Commercial Director of Bloomberg Television, Asia-Pacific. “MediaQuest’s substantial media footprint and stellar reputation make them an ideal partner for us as we expand our brand in Asia. Being in the third largest English-speaking country in the world will help us reach a vast new audience by combining elements of our daily global broadcast material with unique, tailor-made local content.”
The new channel will be run by Bloomberg and TV5, MediaQuest’s free-to-air TV channel. Leveraging TV5’s award-winning talent and production, the channel will provide several hours of unique local daily content supplemented by Bloomberg’s programing to create a new 24/7 premium business news channel. It will be included in Cignal Digital TV’s post-paid international channel bundle and created exclusively for its DTH platform.
“We are very excited to be partnering with Bloomberg and believe their global experience will be invaluable in taking business television programming to the next level,” said Noel C. Lorenzana, President and CEO of MediaQuest. “Our financial markets are rapidly growing in size and sophistication and we saw room for a premier business channel that can inform, educate and showcase the best of business and finance in the Philippines.”
He added, “We are also committing our latest technology to the production of Bloomberg TV Philippines, such as our high definition (HD) cameras, studio controls, HD OB vans, and HD ENG vans. We always strive to provide the best experience we can to our subscribers.”
This initiative continues Bloomberg Television’s momentum in Asia, complementing local partner channels in India, Indonesia, Malaysia and Mongolia.
Bloomberg connects influential decision-makers to a dynamic network of information, people and ideas. Its strength – quickly and accurately delivering data, news and analytics through innovative technology – is at the core of everything it does. With over 15,500 employees in 192 locations, Bloomberg delivers business and financial information, news and insight around the world. For more information, please visit www.bloombergbusiness.com.
About MediaQuest Holdings Inc.
MediaQuest Holdings, Inc. is a media-holding company with interests in free TV, pay TV, radio, and print. MediaQuest owns TV5 Network Inc. (TV5), the fastest-growing free-to-air television channel broadcasting all over the Philippines, and Cignal TV, Inc., under which it operates the country’s leading direct-to-home TV subscription service via satellite and terrestrial wireless transmission under the brand name Cignal, with a current subscriber base of over 844,000. In addition to this, MediaQuest also holds controlling interests in Nation Broadcasting Corporation (NBC), a company engaged in the business of commercial radio broadcasting nationwide, as well as outstanding local publications BusinessWorld Publishing Corporation (BusinessWorld) and Philstar Daily, Inc. (The Philippine Star). MediaQuest also owns minority interests in Unitel Productions, Inc., a foremost TV production company that has produced award-winning TV commercials and films. Established in 1999, MediaQuest is a wholly owned subsidiary of the PLDT Beneficial Trust Fund.