Nine Media Corporation

Nine Media Corporation
Private
Traded as Nine Media Corporation
Industry Media company
Predecessor Solar Television Network, Inc. (2010 -2014)
Founded January 5, 2010 (2010-01-05)
Founder Wilson Y. Tieng
Willy Y. Tieng
William Y. Tieng
Headquarters Ground Floor Worldwide Corporate Center, EDSA corner Shaw Boulevard, Mandaluyong City, Philippines
Area served
 Nationwide
Worldwide
Key people
 Armie Jarin-Bennett (President)
Benjamin Ramos (Vice President)
Products CNN Philippines
Services Free-to-air TV and radio broadcasting, Cable television, publishing, news, websites
Revenue PHP169.6 million (FY 2015)[1]
PHP-651.85 million (FY 2015)[1]
Owner ALC Group of Companies
Number of employees
 328 (FY 2015)[1]
Parent ALC Group of Companies
(Aliw Broadcasting Corporation)
Divisions CNN Philippines News and Current Affairs
Subsidiaries Radio Philippines Network (34%)

Nine Media Corporation (formerly known as Solar Television Network, Inc. or STVNI) is a Filipino-based media company. Formerly a wholly owned subsidiary of Solar Entertainment Corporation (SEC), a multimedia television and film company of the Tieng family, it is now solely owned by the ALC Group of Companies of the late Amb. Antonio Cabangon Chua.[2] Nine Media is currently an affiliate of Aliw Broadcasting Corporation. Its headquarters are located at the Ground Floor of the Worldwide Corporate Center, Epifanio de los Santos Avenue corner Shaw Boulevard, Mandaluyong City, sharing with its former parent Solar Entertainment.

It owns and operates television network CNN Philippines, as well as the 34% minority share of former state-owned media giant Radio Philippines Network (RPN).[2]

History

TV channel

Solar Entertainment launched Solar TV in the early 2000s, which was later renamed to Solar USA and then to USA. USA was split into two channels, Jack TV and Crime/Suspense, in 2005.

Solar TV launched last November 29, 2009 on RPN at 11:00am. On October 31, 2010, it changed some of its programming content to English/Tagalog.

Broadcast company

After Solar Entertainment Corporation acquired 34% of RPN's shares from the Philippine government as part of RPN/IBC privatization in 2011, Solar TV was morphed into a corporate television arm of Solar Entertainment, the Radio Philippines Network (RPN) brand on the other hand remains unchanged. The new company launched an all talk/news channel Talk TV on March 2, 2011, co-owned by Solar TV itself and SBN while ETC replaced Solar TV on RPN. Talk TV would later change its name to Solar News Channel on October 30, 2012.

In the last quarter of 2011, Solar TV launched its own news division Solar News. The programs produced by the new division were manned by former ANC personalities including Jing Magsaysay, Pia Hontiveros, Nancy Irlanda, Claire Celdran and Mai Rodriguez.[3]

In November 2013, San Miguel Corp. President and COO Ramon S. Ang personally tried to acquire the majority stake of STVNI from the Tiengs. Despite the new development, he would settle instead for a minority share of STVNI in September 2014.[4]

In the third quarter of 2014, Solar Entertainment chair Wilson Tieng announced that the ALC Group of Companies of former Ambassador Antonio Cabangon-Chua, took over STVNI, as well as its majority stake on RPN. Tieng and (RPN president) Robert Rivera were both resigned as chairman and president, respectively.[5] The selloff of STVNI was also caused by Solar Entertainment's loss of revenue after investing in RPN.[6][7] Solar TV reflected the change of ownership by reverting all non-SNC channels and assets back to Solar Entertainment, followed by shedding off the Solar branding in all SNC's programs. The transfer was completed when SNC (which was transferred to RPN in December 2013) was finally rebranded into 9TV on August 23, 2014.[8][9]

On October 14, 2014, Solar TV Network was renamed as Nine Media Corporation, following the agreement between the latter and the Turner Broadcasting System to use the branding of CNN into its free TV assets of RPN as CNN Philippines, replacing 9TV, which was considered as a transitional brand. CNN Philippines was launched on March 16, 2015.

In September 2015, Nine Media Corporation President and CEO Reggie Galura stepped down from his position, and replaced by Jorge San Agustin as Officer in Charge of the network temporary. One year later on October 9, 2016, CNN Philippines Managing Editor Armie Jarin-Bennett was appointed as President and CEO of Nine Media Corporation replacing Jorge San Agustin.

Organization

Solar Entertainment Corp. (SEC) and Solar TV (STV) are two separate business entities:

  • SEC is exclusively owned by the Tieng brothers and operates 10 TV networks - ETC, 2nd Avenue, JackTV, JackCITY, Solar Sports, Basketball TV, NBA Premium, Shop TV, The Game Channel and My Movie Channel. It also has acivities in film distribution.
  • STV, which presently runs Solar News Channel, is an incorporation wherein both William Tieng and Wilson Tieng are members of the Board of Directors.

Broadcast assets

TV channels

Former divisions, and broadcast assets

Previous or changed ownership television channels

See also

References

  1. 1 2 3 "Media Ownership Monitor Philippines - Nine Media Corporation". VERA Files. Retrieved November 24, 2016.
  2. 1 2 "Solar Entertainment FAQ's" (Press release). Retrieved August 18, 2014.
  3. ↑ Tiengs move into news Manila Standard Today. 02-25-2011. Retrieved 02-25-2011.
  4. ↑ "MVP-Ang rivalry set to spill over into television with San Miguel acquisition of Solar stake". November 9, 2013. Retrieved August 18, 2014.
  5. ↑ "Cabangon-Chua buys Solar TV Network". BusinessWorld. August 22, 2014.
  6. ↑ Cabangon-Chua acquires RPN-9 retrieved August 21, 2014
  7. ↑ Cabangon-Chua group set to take over RPN-9 retrieved August 21, 2014
  8. ↑ - Solar News to be renamed News9? (Media Newser Philippines) retrieved August 18, 2014
  9. ↑ - Is RPN-9 Destined to Return? retrieved August 18, 2014
  10. ↑ - Solar News Channel turns into 9TV retrieved August 13, 2014
  11. ↑ Angela Casauay (October 14, 2014). "CNN Philippines to start airing 1st quarter 2015". Rappler. Retrieved November 19, 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.