However or whatever whatchamacallit, it will always be viewed and perceived as the big capital consolidating ownership of print, broadcast and media as drive towards monopoly, control and discretion on dispersing content and media information.
Take a look at the giant PLDT Group which owns TV channel 5 by way of MediaQuest Holdings Inc. MediaQuest is the holding firm for TV5 operator Associated Broadcasting Corporation and Cignal, a direct-to-home satellite TV service provider. It has also the InterAksyon, “the online news portal of TV5, the broadcasting network of the PLDT Group”.
The PLDT Group remains the country’s biggest telecom network. In terms of cellular network, it has the biggest subscriber base of about 72 million.
The PLDT Group also has minority interests in the country’s biggest newspapers: 18 percent of Philippine Daily Inquirer and 20 percent of Philippine Star.
And yesterday, the Philippines’ biggest telecom company said it has taken over the country’s oldest business newspaper, the BusinessWorld, from a 30-percent stake, increasing to 50 per cent.
PLDT is partly owned by Hong Kong-based First Pacific Co Ltd. and Japanese NTT group. NTT is the predominant mobile phone operator in Japan, among others.
Can you read the writings on the sky?
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(The dollar) Earnings are siphoned back by the “mother” companies which are based outside of the country- Hong Kong and Japan?