August 30, 2014 1:25 PM ET

Media

Company Overview of Mediaquest Holdings Inc.

Company Overview

Mediaquest Holdings Inc. provides radio and television broadcasting services through its subsidiaries Nation Broadcasting Corp., MTV Philippines, Philippine Home Cable Holdings Inc., GMA Network Inc., and Unilink Communications Corporation. The company is based in Makati City, Philippines. Mediaquest Holdings Inc. operates as a subsidiary of Philippine Long Distance Telephone Co.

Ramon Cojuangco Building

Makati Avenue

Makati City,  1200

Philippines

Phone:

63 2 814 3552

Fax:

63 2 813 2292

Key Executives for Mediaquest Holdings Inc.

Chief Executive Officer and President
Age: 59
Compensation as of Fiscal Year 2014.

Mediaquest Holdings Inc. Key Developments

Mediaquest Eyes Controlling Stake In BusinessWorld

Mediaquest Holdings Inc. eyes controlling stake in BusinessWorld Publishing Corp. “We are already happy with our stakes in The Philippine STAR and the Philippine Daily Inquirer. We are focusing our attention on the financial requirements of BusinessWorld,” Ray Espinosa, Outgoing President of Mediaquest said. He added that BusinessWorld is a “venerable” brand and Mediaquest is committed to finding the appropriate solution that would restore its financial health. He said Mediaquest has been evaluating several funding options for BusinessWorld and one of the options is to acquire new shares of the company but the extent of the investment would depend on the funding requirements of the company for this year and next year. “This may have to be done in combination with the purchase of shares held by the company’s retirement fund in order for it to have money for its retirement liabilities. All these options are being seriously evaluated by Mediaquest and it will choose the option that will best respond to the needs of all stakeholders,” he added. According to him, Mediaquest could take control of BusinessWorld depending on the funding needs of the company and the transaction could be done as soon as possible. “A controlling stake may be inevitable given the total funding requirements of the company. The funding needs of the company are quite urgent and we are striving hard to reach a solution acceptable to all stakeholders at the soonest possible time,” he said. Mediaquest holds 30% stake in BusinessWorld.

MediaQuest Terminates Acquisition Talks With GMA

Mediaquest Holdings Inc., unit of Philippine Long Distance Telephone Company (PLDT), has terminated recent discussions with respect to a possible acquisition of controlling interests in GMA Network, Inc. by MediaQuest and its affiliate within the PLDT Group. PLDT and GMA said, "The parties have been unable to arrive at mutually acceptable terms despite the continual discussions and efforts exerted in good faith."

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March 4, 2014
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