MEDIAQUEST Holdings, Inc. is eyeing the consolidation of its online news publications, which may see online news site InterAksyon.com continue operations.
“MediaQuest is studying the possibility of continuing InterAksyon under the PhilStar Global Group and thereby consolidate all our online news publications under the said group. This plan will also apply to BusinessWorld Online,” Ray C. Espinosa, president of MediaQuest, said in a statement on Thursday.
The PLDT, Inc. Beneficial Trust Fund subsidiary issued the statement after news that Interaksyon.com, the online news Web site of TV5 Network, Inc., is scheduled to be shut down in March.
“Accordingly, Mediaquest is working with the Philstar Global group to determine the feasibility of implementing this plan in a cost efficient manner,” Mr. Espinosa said.
Hastings Holdings, Inc., a MediaQuest unit, has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.
Roby Alampay, editor-in-chief of InterAksyon, said in an interview the Web site’s closure would affect 20 regular employees. The Web site had also let go of contractual employees last year.
TV5 last year shifted its strategy to focus on sports television. It partnered with US-based ESPN, Inc. to focus on and widen its sports programming, and rebranded its Sports5 segment into ESPN5. — P.P.C. Marcelo