Prime Media Holdings Inc. pointed out that its joint venture with ABS-CBN Corp. would focus exclusively on content creation and production for various platforms, excluding free TV broadcast.
Atty. Manolito A. Manalo, president of Prime Media, emphasized that the primary objective of the joint venture is to deliver accurate and well-balanced news and information to the public, as well as provide essential public services.
The content generated through this joint venture will be distributed across various platforms, including radio, cable TV, and other channels, ensuring widespread accessibility for audiences.
Prime’s subsidiary Philippine Collective Media Company (PCMC), alongside other outlets, will facilitate the dissemination of the produced content.
Manalo stressed that PCMC operates independently and ABS-CBN will not have involvement in the day-to-day operations of either Prime Media or PCMC.
Instead, the two parties will establish a separate joint venture company.
By leveraging the power of radio, Prime Media acknowledges its ability to forge connections, raise awareness, and inspire positive social change due to its extensive reach, affordability, and ease of access.
Manalo said Prime Media’s shareholders can anticipate enhanced share value through the revenue stream anticipated from their equity investment in this joint venture.
RELATED STORIES:
ABS-CBN’s Lopez strikes deal with Prime Media to bring back DZMM on the airwaves
ABS-CBN’s path to profitability: Broader viewership through multi-platform partnerships