Tuesday, December 21, 2010

Newsbytes: GMA-7 may spend P600M for digital TV transition

With the government-mandated ruling that television stations should shift to digital transmission by 2015, broadcast giant GMA-7 has revealed that it may spend P300 to P600 million for its move to digital TV.
The TV station made the pronouncement in a disclosure to the Philippine Stock Exchange (PSE) where it also divulged that it is unlikely to reach its P3-billion income target for 2010 because of a weak fourth quarter as compared with the same period last year which was buoyed by election campaign ads.
“While the company’s 4Q 2010 performance was good, 4Q 2009 was better due to the presence of advocacy ads. Thus, the company may not be able to hit its P3 billion net income target for 2010. Channel 7’s gross airtime revenues would settle roughly at P12 billion for the whole year,” the company said.
The National Telecommunications Commission (NTC) has formally directed television firms to start migrating to digital TV after picking early this year a Japanese digital TV standard. - dated 21 December 2010, 11:52 AM.
Source: Newsbytes Philippines

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