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Philippines’ ABS-CBN/TV5, Sky Cable/Cignal US$208m alliances collapse, no reasons given
Philippines media giants, TV5 and ABS-CBN, have called off their ground-breaking US$208-million free-/pay-TV alliances three weeks after these were announced.
Among other advantages, the broadcast TV deal, announced on 10 August, would have given ABS-CBN a path back to the country’s mainstream broadcast business and would have put TV5 in play against the Philippines’ current free-TV leader, GMA Network.
No reasons were given in this morning’s disclosures to the Philippine Stock Exchange and the Securities Exchange Commission.
The companies said only that they had “mutually agreed” to terminate multiple sales, purchase and investment agreements that covered its pay-TV and free-TV businesses.
Industry sources have flagged regulatory issues and likely political resistance to a deal that would walk back some of the damage done to ABS-CBN in 2020, under the administration of former president Rodrigo Duterte, when its broadcast franchise was not renewed.
In one of two disclosures lodged this morning, TV5 Network Inc and ABS-CBN Corporation said they had terminated the investment agreement covering the proposed acquisition by ABS-CBN of 34.99% equity interest in TV5 and the convertible note agreement covering the proposed subscription by ABS-CBN to a convertible note to be issued by TV5.
A separate disclosure was lodged by Sky Vision Corporation, ABS-CBN Corporation, Lopez Inc, and Cignal Cable Corporation.
The agreement involved the acquisition by Cignal Cable of 38.88% equity interest in Sky Cable Corporation. The debt instruments agreement covered the proposed subscription by Cignal Cable to an exchangeable debt instrument to be issued by Sky Vision and the proposed acquisition by Cignal Cable of a convertible note issued by Sky Cable.
Related stories:
 10 August 2022: ABS-CBN x TV5: US$72m agreement sealed in landmark move for one-time broadcast giant
10 August 2022: Cignal eyes majority stake in Sky, Philippines’ cable giants align in US$136m deal
5 August 2022: ABS-CBN, TV5 alliance draws near, PLDT boss Manny Pangilinan says
7 June 2022: ABS-CBN reaffirms pivot; in play for deeper content alliances with anyone/everyone, one-time broadcast great says amid rumours of TV5 talks
Korea’s KCC submits US$189m budget; US$53 million to promote Korean content around the world
The Korea Communications Commission has submitted a budget of KRW 255.5 billion/US$188.6 million for 2023 to the country’s National Assembly.
The new budget includes KRW 71.3 billion/US$52.6 million to continue promoting Korean content around the world in what the KCC calls the “national task of realising a global media powerhouse”.
The budget also includes KRW44.7 billion/US$33 million to improve access to media for the underprivileged and support SMEs and small business owners, and KRW61.8 billion/US$45.6 million to “protect digital platform users and respond to adverse Internet functions”.
The budget is expected to be finalised towards the end of the year.
Indonesia’s MNC ups production spend in 1H 2022; “Ikatan Cinta” continues to drive ratings
Indonesia’s PT Media Nusantara Citra’s bigger bet on original content in the first half of this year drove a 14% increase in direct costs to Rp2,133 billion/US$143.3 million, the company said in its latest earnings report.
The higher emphasis on originals is driven in part by streaming platform Vision+ and a bigger focus on stronger titles that will generate future recurring revenue, including content licensing.
MNCN’s content and IP business for the year to end June was 15% up year on year to Rp836 billion/US$56.2 million.
Rp201 billion/US$13.5 million of this was from third-party distribution/licensing sales.
MNCN booked a gross profit of Rp2,958 billion/US$198.7 million, an increase of 4% year on year, and net income of Rp1,343 billion/US$90.2 million, up 6% on last year.
The company’s prime-time free-to-air audience share for the first half of the year was 44.3%, with all-time share at 40.8%.
This was led by chart-topping drama series, “Ikatan Cinta” and “X-Factor Indonesia”, on flagship channel RCTI.
Steve Chung joins Korea’s CJ ENM in L.A.-based global growth role
Korea’s CJ ENM has appointed Steve W. Chung to a newly created position of global chief growth officer, effective immediately, the company said in an announcement out of Los Angeles today.
The new role comes as CJ ENM fast-tracks global expansion plans, with a heavy focus on expanding its U.S. presence.
Chung is based in Los Angeles.
Chung was most recently chief growth officer at Fox Corporation. Before that, he founded Frankly, a publicly traded media tech company in San Francisco. He also worked in Silicon Valley as a venture capitalist, and as an executive producer in China.
Times Now, History2/History2 On Demand exit Singapore’s Singtel from 1 Oct
Pay-TV channels Times Now and History2 are coming off Singapore platform Singtel from 1 October this year.
The exit of History2 along with History2 On Demand is part of a regional decision by channel operator, A+E Networks to retire the services.
Singtel will continue to carry A+E Networks’ other channels – History, Lifetime and Crime + Investigation.
History2’s most popular shows will migrate to History.
Singtel says the exit of Times Now is part of its “ongoing content review”.
The platform encouraged subscribers to tune into other Indian news channels, including NDTV 24x7, NDTV India and Sun News.
FEATURES
Formats Outlook: 2022
The beginning of a recovery is creeping across Asia’s format business, with a rise of about 30% in the number of formats on air or commissioned in the first six months of 2022 compared to the first half of 2021. But there’s a long way to go to a return to 2017’s high of 285, ContentAsia’s latest Formats Outlook shows. Read more here
Independents’ day
For some of Southeast Asia’s independent producers, life has never seemed better. Others, not so much. We contacted 100 indies in six countries to talk about hopes, challenges, talent, budgets... Read more here
Beyond the headlines
CNN’s Ellana Lee celebrates her 25th anniversary at the global news network this year. Vanita Kohli-Khandekar spoke to her about the milestone, a career journey that started in 1997 with hand-scrolling the teleprompter for news anchors, and using her position for the greater good. Read more here
Value driven: Countdown to Korea’s ACE
Digital transformation and the expansion of content value takes centre stage at this year’s Asia Content & Entertainment (ACE) Fair and content developer conference in Gwangju in September, highlighting vital top-of-mind issues driving sweeping change across all industry sectors. Read more here
Sponsored content brought to you by Gwangju ACE Fair.
The Spend
Video content investment in India, Korea & Southeast Asia could be up 15% in 2022 to US$12 billion, a drop from 21% growth in 2021, Media Partners Asia (MPA) says. Read more here
ContentAsia Summit 2022’s sessions are now available on-demand at www.contentasiasummit.com
Malaysia's dominant subscription video platform, Astro, has a well-documented transformation plan that stretches from becoming the home of a wide range of third-party streaming apps to commissioning the first local adaptions of U.K. premium drama "Liar" and French series "Call My Agent". Content Director Agnes Rozario talks about new approaches, changing consumption habits and Astro's relationships with third-party producers. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
Viu's Thailand unit continues to pull out all the stops it can to create a slate of premium titles that differentiate the regional streaming platform and build the Viu brand. Viu Thailand's GM, Thawatvongse (Oh) Silamanonda, talks about the journey from “My Bubble Tea” to the latest original, “Finding the Rainbow” starring Nichkhun Horvejkul, about pushing up production values, and about the beginning of an international syndication business that maximises the potential of the IP being created. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
This session looks at the role of incentives, the state of facilities and other must-haves (or haven’t yets) and what nexts as Asia builds up its physical production ecosystem. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
Thailand-Korea joint venture, True CJ Creations Co., Ltd, was set up to marry the best of Korean IP with the spirit of Thailand. From the start, the Bangkok-based company charted a new path for scripted and non-scripted content in Asia, blending Thai practices and tastes with Korean skills and values. “We have a new model,” Co-CEO Ari Arijitsatien said in the run-up to the ContentAsia Summit 2022. “We decode the format and find our own themes.” She joins us to talk about the how & why of reimagining, for example, Korean romantic love triangles as Thai family dramas; a studio system in Thailand based on the Studio Dragon model; plans for originals built on the learnings from adapting Korean IP; and co-production ambitions. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
Digital terrestrial (DTT) free-TV channel, JKN18, became part of the JKN Global Media empire a little over a year ago. Platform MD, Ongart Singlumpong, talks about reshaping a content agenda that is now split 50-50 between news & information and entertainment, expanding reach with a mix of general news, sports, docs, movies and Indian titles, the role of TV shopping on the new schedule, and the experiences in trying to attract and serve a mass audience. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
When Mono Film changed its name to Mono Streaming, it stepped into its destiny as a producer and distributor of video entertainment – including film and television series across multiple genres – for digital platforms. Sirirat Kositanonda, the company's AVP/Head of Rights Management, talks about the new production vision, co-production ambitions, gathering the cream-of-the-crop directing and screenwriting talent, and the growing might of Thailand's "soft power" around the world. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
Fresh off the set of his new production, singing game show "Sing or Sync", which premieres on 4 Sept on free-TV broadcast network Channel 3 HD, Zense Entertainment's CEO, Varavuth Jentanakul, talks about co-developing and co-producing the show with Korean partners, shifting focus to urban audiences, and doing a whole lot more content online. The link to the full session is here
Enter the Virtual Auditorium after you login, click the “watch sessions” screen, choose the Day tab and click the “Play” button.
AND MANY OTHERS, INCLUDING (In order of appearance):
Monika Rudijono Managing Director, Vidio
Catherine Park Senior Vice President, Head of Office & Streaming for Asia, Paramount
Felix To Head of Originals, Viu
Nik Emir Din Co-CEO, Bitsmedia (Muslim Pro)
Dinesh Ratnam Country Manager - Malaysia, Singapore & Brunei, iQiyi
Parnsuk "Poppy" Tongrob Thailand Content Lead, iQiyi
Nini Yusof Deputy Chief Executive Officer, Media Prima TV Networks (Malaysia)
Virginia Lim Chief Content Officer, Mediacorp (Singapore)
Nuttapong Mongkolsawas Senior Content Production Director, GMMTV (Thailand)
Apicha Honghirunruang President, BEC Studio (Thailand)
Henry Tan Group CEO, Astro Malaysia Holdings
Bettina Thoma-Schade Executive Producer, "HER – Women in Asia", DW
MeeFung Lee Managing Director, PIK Film (Malaysia)
Derek Tan Co-founder Viddsee
Luca Fiore Director of Content and Education, Macademia
Dexter Ong MD, International & Interim Head of Content & Creators, Wattpad Webtoon Studios
Jay Roewe SVP, Incentives & Production Planning HBO/HBO MAX/Warner Bros Discovery
Anthony Buncio SVP Streaming, Screenplay Films
Michelle Chang Co-founder, Mocha Chai Laboratories
Justin Deimen President, 108 Media
Thean-jeen "TJ" Lee Managing Director, Weiyu Films
Gayatri Su-Lin Pillai Executive Producer, Infinitus Entertainment (Malaysia)
Antony Tulloch CEO, Docklands Studios Melbourne
Vara Vilaivan Acting Director Studio Management, The Studio Park Thailand
Ashim Mathur Senior Director Marketing, Japan & Emerging Markets, Dolby Laboratories
Yann Courqueux Vice President, Home Products, StarHub (Singapore)
Clarissa Tanoesoedibjo MD, Vision+ / Executive Producer at Vision Pictures
Yossinee Na Nakorn Executive Producer, "Matalada" ("To the Moon and Back") & "The Frenemies" for Ch3 / BEC World
Sabrina Duguet EVP, Asia Pacific, All3media International
Min Lim Head of Production, Double Vision (Malaysia)
Rishi Negi CEO, Endemol Shine India
Thiti "Teddy" Sutthikulphanich Executive Producer, “The Betrayal” ("Dr Foster" Thailand), Juvenile Co Ltd
Concepcion (Connie) Macatuno Director, "The Broken Marriage Vow" (Philippines adaptation of "Doctor Foster")
Anne Jakrajutatip CEO, JKN Global Media
Indra Suharjono Executive Producer, "Project Runway Thailand" / Co-founder, i.e. Entertainment
Tawn Chatchavalvong Mentor, "Project Runway Thailand"
Badmaa Batbold Executive Producer, "Project Runway Mongolia", Star TV Mongolia
Jay Lin CEO, Portico Media (Taiwan) / Founder, GagaOOlala
You can access ContentAsia's latest magazine here and also browse back issues of all our publications at www.contentasia.tv
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