TV5 confident of turnaround

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    TV5 Network Inc.  is optimistic of achieving financial turnaround in the coming years, according to Jane Basas, company president and chief operating officer.

    “We will be hitting our commitments to our shareholders. I’ve just secured approval (board) for the strategic plan of (TV)5 and hopefully in the next coming years, I’ll be able to turnaround the business.” said Basas whose appointment took effect last August.

    Basas did not elaborate on the details of the strategic plan but said “we will have a major announcement… in the next months.”

    Basas earlier said TV5 will launch new programs by next year as part of plans to pivot towards entertainment content while keeping its sports and news program.

    TV5 is confident it would be able to execute the new plans with the approval of its budget for next year, including the investment for the rollout of digital terrestrial television (DTT) in the country.

    “The capex (capital expenditure) is also huge. I cannot say the exact amount but capex will really mostly go to the (build of DTT) and for Cignal to really fund our new businesses,” said Basas, who is also the president and chief executive officer of Cignal.