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Nine Media Corporation

From Wikipedia - Reading time: 13 min

Not to be confused with Nine Network or its owner Nine Entertainment.
Nine Media Corporation
FormerlySolar Television Network, Inc. (2010–2014)
Company typePrivate
IndustryMass media
Broadcasting
Entertainment
FoundedJanuary 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, Metro Manila
,
Philippines
Area served
Nationwide
Key people
  • Benjamin Ramos (President)
  • D. Edgard A. Cabangon (Chairman)
ProductsTelevision program
Web portal
Digital media
BrandsRPTV
ServicesBroadcasting
TV production
Cable television
Internet
Streaming service
Satellite television
RevenuePHP169.6 million (FY 2015)[1]
PHP-651.85 million (FY 2015)[1]
OwnerBroadreach Media Holdings, Inc. (through JRLT-JHI Corporation)
Number of employees
328 (FY 2015)[1]
ParentALC Group of Companies
SubsidiariesRadio Philippines Network (34%)

Nine Media Corporation (NMC, 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 through its indirect grandparent Broadreach Media Holdings, Inc.[2] Its headquarters are located at the Ground Floor of the Worldwide Corporate Center, Epifanio de los Santos Avenue corner Shaw Boulevard, Mandaluyong, sharing with its former parent Solar Entertainment.

It owns and operates its sole television property RPTV (joint venture with TV5 Network), as well as the 34% controlling share of Radio Philippines Network (RPN).[2] The company is named after its flagship television station in Metro Manila.

History

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TV channel

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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 Radio Philippines Network (RPN), then owned by the Philippine Government Communications Group, at 11:00am (Solar Entertainment already has an airtime lease agreement with RPN in 2007). Its programming grid primarily includes American programs, and local sports and lifestyle content. On October 31, 2010, it changed some of its programming content to English/Tagalog.

Broadcast company

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Solar TV morphed as Solar Television Network, Inc. (STVNI) on January 5, 2010, as the corporate television arm of Solar Entertainment Corporation, serving as blocktimer of Solar Entertainment's channels to free-to-air broadcasting networks. STVNI later represented Solar Entertainment to acquire 34% of RPN's shares from the Philippine government as part of RPN/IBC privatization in 2011. 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 was replaced by Jorge San Agustin as Officer-in-Charge of the network. On October 9, 2016, CNN Philippines Managing Editor Armie Jarin-Bennett was appointed as president and CEO of Nine Media Corporation replacing San Agustin.

On January 25, 2024, Media Newser Philippines reported that Nine Media Corporation and CNN agreed to shut down CNN Philippines by mutual agreement due to financial losses as well as poor ratings of the network and loss of advertisers' support. The Radio Philippines Network branding is set to return to its stations for some time in the future while CNN weighs its future options.[10]

On January 29, 2024, CNN Philippines confirmed that it has ceased live news productions effective immediately, and to be dissolved entirely on January 31, citing financial losses.[11][12]

On January 31, 2024, TV5 Network partnered with Nine Media and RPN to carry its selected programming (including Eat Bulaga! and PBA games) alongside classic RPN shows under its channel's new branding RPTV which is slated to launch the following day. Selected programs from One PH and Radyo5 are also airing on RPTV, marking its return to analog free-to-air television after 5 years since AksyonTV's closure.[13]

Corporate structure

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as Solar TV Network

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Solar Entertainment Corp. (SEC) and Solar TV (STV), prior to the latter's acquisition by ALC Group of Companies in 2014, 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 activities 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.

as Nine Media

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Since 2014, Nine Media Corporation is being owned by ALC Group of Companies through its investment unit JRLT-JHI Corporation. While Antonio Cabangon-Chua was sitting as its chairman until his passing in 2016, JRLT-JHI is being owned by his children and relatives: Ferdinand Chua (20%), Rowena Lumague (20%), Candy Co (20%), Jose Wingkee Jr (20%), and Aida Anora (20%). While businessman Ramon Ang reportedly owns a minority share in Nine Media, SEC documents does not shows any Ang's shares with the company. Instead, Ang makes investments through advertisements and paid programming from the San Miguel Group to sole property CNN Philippines.[14]

It was reported by Vera Files that Broadreach Media Holdings has been owned Nine Media's parent JRLT-JHI. Broadreach Media took over the assets/properties of the embattled CNN Philippines following the latter's closure on January 31, 2024, and is also responsible for the launch of the digital news media service NewsWatch Plus which is independently managed by the remaining staff of CNN Philippines.[15]

Broadcast assets

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TV channels

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Former divisions, and broadcast assets

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Previous or changed ownership television channels

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See also

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References

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  1. ^ a b c "Media Ownership Monitor Philippines - Nine Media Corporation". VERA Files. Retrieved November 24, 2016.
  2. ^ a b "Solar Entertainment FAQ's" (Press release). Retrieved August 18, 2014.
  3. ^ Tiengs move into news Archived July 14, 2011, at the Wayback Machine Manila Standard Today. Feb 25, 2011. Retrieved February 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. ^ "CNN Philippines is shutting down after 9 years". medianewser.ph. January 25, 2024. Retrieved January 25, 2024.
  11. ^ Amojelar, Darwin G. (January 26, 2024). "Nine Media owner confirms CNN Philippines shutdown". Manila Standard. Retrieved January 26, 2024.
  12. ^ Rivas, Ralf (January 29, 2024). "CNN Philippines shuts down as losses mount". Rappler. Retrieved January 29, 2024.
  13. ^ "From CNN Philippines to RPTV: MVP's TV5 to provide content to Channel 9, possibly including a prime time newscast". Bilyonaryo. January 31, 2024. Retrieved February 1, 2024.
  14. ^ Ramon Ang and his media interests Accessed on December 1, 2018.
  15. ^ "Nine Media Corporation". Media Ownership Monitor. VERA Files. Retrieved July 2, 2024.
  16. ^ "Solar News Channel turns into 9TV". Solar News. Archived from the original on August 13, 2014. Retrieved August 13, 2014.
  17. ^ Angela Casauay (October 14, 2014). "CNN Philippines to start airing 1st quarter 2015". Rappler. Retrieved November 19, 2014.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Nine_Media_Corporation
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