Sunday, February 26, 2006

Philippine Networks RPN9 and IBC13 up for grabs

Sequestered government stations RPN 9 and IBC 13 is generating interest from the likes of businessman Manuel V. Pangilinan, veteran media executives Frederico M. Garcia and Arlene de Castro and programmers like Solar Entertainment and even GMA Network Inc., according to the media sources in Manila.

The sale of assets of RPN 9 and IBC 13 was previously estimated to yield a combined P4.5 billion (US1 = 51 pesos) for the government.

Sources said that Pangilinan, popularly known as MVP, and Garcia, former president of ABS-CBN Broadcasting Corp., were planning to bid jointly for Radio Philippines Network or RPN 9.

Talks about their tie-up have been going around the industry for at least three months now. Employees of RPN 9, according to another source, were already excited with the thought that MVP would be coming in.

Some analysts suggest the two stations could not fetch very attractive bids because most of their equipment were old and that much of the airtime, especially in IBC 13, have been sold to block-timers like El Shaddai.

Full story http://money.inq7.net/topstories/ view_topstories.php?yyyy=2006&mon=02&dd=20&file=2

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