Type Subsidiary Headquarters Makati, Philippines | Owner PLDT Founded 1998, Makati, Philippines | |
Industry Broadcast television and radio network, Print publishing, sports broadcasting Key people Manuel V. Pangilinan (Chairman)
Vincent Reyes (President) Parent organization ABC Development Corporation Subsidiaries TV5, ABC Development Corporation | ||
MediaQuest Holdings, Inc. is a media conglomerate owned by the Beneficial Trust Fund of the PLDT. It owns most of the media establishments such as TV5 Network (TV5), Nation Broadcasting Corporation (NBC), Cignal, 51% interest in The Philippine Star, 70% interest in Business World Publishing Corporation (BusinessWorld), 30% in Unitel Group and 80% minority interest in AKTV.
Contents
History
MediaQuest was established in the 1990s by PLDT through its Beneficial Trust Fund, a retirement fund agency. First launched with 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. 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, a direct-to-home satellite provider and radio network from Satventures Inc. of the Galang family. At the same year, it launched myTV as a mobile TV service.
One of the biggest acquisitions was the 2010 acquisition ABC Development Corporation and blocktimer MPB Primedia Inc. from the Cojuangco family 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. 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.