Manny V. Pangilinan’s ambitious ventures turned out to be disastrous for TV5, and the network is now on an identity crisis. (Photo credit: Philstar.com)
Any improvement on TV5 is now an impossible dream.
In just two weeks, TV5 went from being a promising station to a shell of its former self. Even sister station AksyonTV is feeling the sting of TV5’s seeming downfall.
Much of the blame is centered on its owner, Manny V. Pangilinan. The businessman known as MVP purchased TV5 back in 2010 and was promised to improve the station in a few years’ time.
But instead of upgrading its signal strength and nationwide reach (a weakness of the then-ABC 5 during the ownership of Tonyboy Cojuangco), Pangilinan chose to revamp TV5’s programming and facilities in order to better compete with ABS-CBN and GMA. Unfortunately, MVP’s ambitious moves did not result in immediate success, and TV5 soon encountered turbulence.
TV5 first tried to form its own stable of artists (mostly veterans like Sharon Cuneta and Willie Revillame), and produced some programs that could have given ABS-CBN and GMA a run for their money. It failed, and not even the intervention of Vic del Rosario and VIVA Entertainment made a difference.
The Kapatid network then acquired the broadcast rights to some big-name sporting events (e.g. PBA, Olympics, FIBA World Cup) and even managed to strike a blocktime deal with IBC-13 (named AKTV) to aid in his quest. However, AKTV was a financial failure, and Sports5 had no choice but to air them on TV5 and AksyonTV, which proved to be detrimental to both networks.
Next in TV5’s agenda was the improvement of its news division, thus the establishment of AksyonTV and Radyo5 92.3 News FM. Despite the numerous awards given to them, News5 was criticized for its overemphasis on tabloid-style news reporting, as well as mismanagement from within.
Finally, TV5 invested in the satellite subscription service Cignal, and by 2015, it reached its target of 1 million subscribers. Still, its channel lineup remains paltry in comparison to its older cable competitor SkyCable.
Overall, the attempt to turn TV5 into a broadcast giant in the mold of ABS-CBN and GMA turned out to be a failure. Today, their programming as a whole is back to what the Cojuangco-era ABC 5 used to air, with a lot of TV shopping blocks, imported programming and movies, and in the case of Radyo5 92.3 News FM, too many vacant slots.
Now that TV5 is back to where they started, what will be the next move for MVP? Having wasted a lot of money making some ambitious yet unsuccessful ventures, it’s about time for his network to tear down and start over, or else the inevitability of bankruptcy or sale will soon hang over his head.
The next move starts now, MVP. Do the right thing and save TV5 from collapse.