MPB Primedia Inc. confirmed the news that TV5 CEO Christopher Sy has tendered his resignation.
In a written statement forwarded to PEP (Philippine Entertainment Portal) by Primedia, Inc. Marketing Communications Manager Patricia Marcelo-Magbanua announced that Sy, despite the resignation, "will remain with the company thereafter on a consultancy basis."
A subsidiary of Malaysia's Media Prima Berhad, MPB Primedia Inc. formed a partnership with Antonio "Tonyboy" Cojuangco's ABC-5 last year following a long-term blocktime agreement. Changing its station brand from ABC-5 to TV5, the deal consequently paved the way for the network to undergo a complete overhaul in terms of programming, market positioning, and image. The newly repositioned network, officially made public on August 9, 2008, likewise assumed a hip slogan—"Shake Mo, TV Mo"—to proclaim its reinvention.
"We realize that our target market is an active segment that may not have the time to try to follow something on a daily basis. As such, our schedule is based more on ‘appointment' television with provision for catch-up TV, allowing people the flexibility to watch our programs when it's convenient for them," mentioned Sy in a past interview with PEP.
The young network executive, who used to head EMI Music Philippines, likewise stressed the network's primary objective and that is to offer an alternative set of programs away from the usual menu consistently being offered by the two giant and more established network.
PROUD AND OPTIMISTIC. In a statement prepared after his decision to relinquish the top post, Mr. Sy highlighted the network's noteworthy achievements during his brief tenure.
"I am very proud of TV5. From our first week of operations, TV5 has been ranked number 3 in the ratings game. There is also steady increase in all-day viewership and its morning belt is consistently at double-digit share levels. I am very fortunate and thankful for being given the opportunity to be a part of this."
The sudden change of management will not hinder the network's vision and commitment assured Magbanua.
"We will continue to provide our viewers bigger and bolder programs to give Filipinos more choices in entertainment. Primedia through its various departments are already geared up for the rest of the year's challenges.
Like Sy, she pointed out the network's progress in terms of viewership and audience share versus the other competing stations outside the two giant networks.
"To date, TV5 is at its highest level in the morning block with close to 25% audience shares and is at a close fight with network giants ABS-CBN and GMA with both having 26.07% and 27.2% audience shares, respectively. Total day viewership is also substantially higher than QTV, CS9 and Studio 23."