The group of PLDT chair Manuel V. Pangilinan continues to be unsuccessful in expanding its growing media empire abroad, but given recent developments, MVP’s camp may soon have its very own “Financial Times.”
No, this isn’t about a blockbuster merger deal with the FT Group, the globally respected print and online business publishing firm, but rather a mold to draw inspiration from should PLDT finally take control of Business World.
A final deal has yet to be signed but Pangilinan already has big plans for the Philippines’s oldest business daily—at least in terms of content.
“My model is the Financial Times, where [articles] are written very well and the analysis is very good,” Pan
gilinan said.
New plans could also include an analysis-focused weekend edition (Business World runs five days a week plus a Saturday online edition) as well as business content synergies with PLDT-controlled TV5.
Ray Espinosa, the outgoing head of PLDT’s media arm Mediaquest Holdings, noted that a deal to increase the group’s 30-percent interest could be finalized “soon.”
Meanwhile, consolidation remains the name of the game as Pangilinan said he was not stopping at Business World. PLDT also owns minority stakes in the Philippine Daily Inquirer (10 percent) and the Philippine Star.
“We are certainly increasing our [Philippine Star] stake,” Espinosa said. “Not in the Inquirer, we are happy where we are.”—Miguel R. Camus
