Freddie’s golden contract

How true is it that when ABS-CBN chairman Gabby Lopez learned that network president Freddie Garcia is being wooed by the group of Tonyboy Cojuangco to run ABC-5, Gabby immediately gave Freddie an offer that will be very hard to refuse?

You see, Freddie’s long stint with the country’s premiere television network ends in December. So technically, he is free to do what he wants to do after that. Freddie’s retirement came at an opportune time, especially since Tonyboy’s group is expected to officially start running ABC-5 in January next year (as of this writing, Tonyboy and ABC-5 owner Eddie Tan are finalizing the purchase agreement). But when Gabby came to know about Tonyboy’s offer, Gabby gave Freddie a two-year ‘golden’ contract – a two-year consultancy stint for ABS-CBN during which he cannot work for other networks. How much is the contract worth? More than enough to keep Freddie happy.

But of course, people close to Freddie find it hard to believe. They say that if indeed there was an offer from Tonyboy’s camp and Freddie turned it down, it is not because of money but because of love and loyalty for Gabby and the late Genie Lopez.

PEP, NMI Share Swap

Just yesterday, publicly-listed movie production outfit Premiere Entertainment Productions Inc. (PEP) told the Philippine Stock Exchange that it will acquire a controlling interest in telecommunications firm Next Mobile Inc. (NMI) for P6.58 billion.

But that is only half the story. Premiere, whose authorized capital stock is only P1 billion, will be paying for the interest in Next Mobile in PEP shares of stocks. The entire transaction will therefore be done through share swapping. While Premiere will own approximately 97 percent of the outstanding capital stock of NMI, the latter will in turn own Premiere. And according to sources, after the reorganization, it will be the guys
from Next Mobile who will be on top of the surviving entity.

Through the merger with a publicly listed firm, Next Mobile hopes to raise funds for its expansion program. On the one hand, PEP will shift its business focus from entertainment to the high-growth wireless telecommunication sector.

Things are looking up for Next Mobile. Sources say that aside from being in negotiations with other carriers to allow it to exchange text messages with other operators, Next Mobile is also going into broadband or high-speed wireless Internet access. There are also plans to turn NMI’s call center into a full service telemarketing arm. NMI has also been approached by several third parties to franchise out its network in Visayas and Mindanao.

Pinoy Teleseryes, Anyone?

While Filipinos are going gaga over the stars of Taiwanese tele-novela Meteor Garden, ABS-CBN’s international sales group, led by Reena Garingan, is out to create a huge and loyal following for Filipino teleseryes abroad.

Already, ABS-CBN soaps are being aired in Malaysia (Pangako sa Iyo in two TV stations and starting in Nov. and Dec., Darating ang Umaga and Kay Tagal) and in Indonesia (Pangako and very soon, Bituin) where they are dubbed in the local dialect. Talks are ongoing with Vietnam and China which are after teen programs that project morals and values of the youth. But what Reena’s group is really after is to be able to penetrate the Latin American market – countries like Costa Rica, Bolivia, Honduras – next year.

Each Filipino teleserye has the potential of earning $1million in terms of sales abroad. But for Reena, an equally good measure of success is if our own teleseryes will be as popular among non-Filipinos overseas as Meteor Garden is here.

And because of the huge potential for sales of local programs abroad, ABS-CBN producers now have in mind not only the local market but also the overseas buyer when they make these programs.

A Dead Issue

It’s all water under the bridge.

According to PLDT, it has terminated the premium phone services featuring Patricia Javier and Joyce Jimenez months before the privilege speech of Marinduque Rep. Edmund O. Reyes Jr. who has branded these services as tantamount to "phone sex."

In fact, these services have been terminated as of May 30, 2003 in the case of Joyce and Aug. 22 in the case of Patricia, PLDT said in its Sept. 10 letter to NTC commissioner Armi Jane Borje. Phone cards bearing the images of the two are likewise no longer being distributed by PLDT to its major dealers.

The most recent phone cards and services PLDT launched include the Cardinal Sin card for the benefit of Caritas Foundation, the "Make-A-Wish" Foundation card featuring Jolina Magdangal, and soon, the Ninoy Aquino phone card for the benefit of the Benigno Aquino Jr. Foundation.

Amen.

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