Corporate News

9News to announce tie-up with CNN

Posted on October 14, 2014

THE CURRENT AFFAIRS arm of 9TV Network will become the Philippine partner of Cable News Network (CNN), with details of the tie-up and the Philippine company’s rebranding to be announced today, an official said in a phone interview.

Benjamin V. Ramos, chief financial officer of ALC Group and president of RPN-9, said that 9TV Network has signed a deal with CNN and that 9News will soon be rebranded to reflect the CNN connection.

“What I can confirm now is that yes, we have signed with CNN and that 9News (formerly known as Solar News Channel) will soon be CNN Philippines. That’s all I can say now, other details will be disclosed tomorrow as we don’t want to preempt it for other media outlets,” Mr. Ramos said via phone.

He said that 9TV Network, together with the representatives of CNN, is set to formally announce today a partnership with the US 24-hour news pioneer.

The announcement comes two months after newspaper publisher Antonio L. Cabangon-Chua bought out the Tieng family in Solar TV Network, Inc. (STVN), a deal that gave his group a 34% interest in Radio Philippines Network, Inc. (RPN-9).

Through the acquisition, Solar News Channel was rebranded 9TV.

Mr. Ramos suggested in August that further rebranding was possible.

“Solar News Channel to 9TV Network is just temporary so we can distinguish what’s for Tieng and what’s for Cabangon-Chua.”

Other than 9TV Network, Mr. Cabangon-Chua also has interests in print and radio including the daily business paper Business Mirror, tabloid Pilipino Mirror, and Aliw Broadcasting Corp.

Through the STVN acquisition, Mr. Cabangon-Chua now owns 34% of RPN, Inc. while the Presidential Communications Operations Office holds a 20% stake. A further 32% is held by the Benedicto-controlled Far Eastern Managers and Investors, Inc.

Mr. Ramos, however, clarified that Solar Entertainment Corp., which produces franchised and original local programs including ETC, 2nd Avenue, Jack TV, Jack City, Solar Sports, Basketball TV and NBA Premium TV, will remain with Tieng.

The ALC Group has interests in the insurance, pre-need, auto, banking and finance, security, education, hotels, and real estate industries. -- Chrisee Jalyssa V. Dela Paz