ABC to launch business news channel

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MANILA, Philippines—Associated Broadcasting Corp., operator of the TV5 network, is set to launch later this year an English-language news channel that aims to be the leading source of business news for local pay TV customers.

The new channel, which will be called “CEO TV,” will be part of the Cignal TV lineup of shows and will compete head-to-head with ABS-CBN News Channel (ANC) that airs on SkyCable.

“The shows will be produced by TV5 but this will air only on Cignal,” TV5 outgoing CEO Ray C. Espinosa said on Tuesday.

Despite the continued growth of Cignal’s subscriber base, Espinosa admitted that the lack of a local English news channel was a disadvantage for the direct-to-home TV provider.

Cignal TV’s subscriber base reached 457,000 homes at the end of the first quarter, up from about 279,000 in March last year. The company expects to post a positive Ebitda, or earnings before income tax, depreciation and amortization this year.

CEO TV, Espinosa said, will be run by former ANC anchor Twink Macaraig.

He said an English news channel that prioritizes news about business, political and world events over local “police” stories would be an important addition and would help Cignal attract more discerning viewers.

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  • http://twitter.com/a_score_and_7 J.P.C. Perez©

    Why can’t they just focus on their core product first which is TV5. I mean the can barely earn something and now they are trying to compete with ANC which for me is a more reliable and has a broader scope in news reporting.

    • catgotmytongue

      Agree. MVP wants to build a media empire overnight. CEO TV? I don’t know anong content ilalagay nila 24 hours a day, 7 days a week. They should have focused first sa news channel nila in Filipino and sa core channel nila which is TV5. Pagbutihin ang content dun sa major channel nila, build up the news department, put up provincial and overseas news bureaus, and the rest will follow. Na-acquire lang ang BusinessWorld eh English news channel agad-agad (this year or early part of 2014).

  • wazgoingon

    I suggest that ABC 5 put this on free TV as well to enable it to widen its base. Confining the new show to cable channels may not really boost its viewership as anticipated by the company.

    • http://www.facebook.com/edward.mendoza.54540 Edward Mendoza

      agree…As skycable global destiny cable subscriber (due to megaworld property admin there’s no access of skycable or cignal in d unit), its GNN channel is useless. It can’t compete with the ANC.

      Anyway, I just view d stock prices online with my local broker while watching cnbc…

    • Divus Titus

      Agree… it should be a free TV.

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