New TV5 chief named, Espinosa heads to First Pacific

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Charles Lim, an old-hand in the highly competitive mobile phone industry, will replace Lorenzana as of the individual business for the PLDT Group. The appointments, which will take effect on June 1, 2013, were made by head honcho Manuel V. Pangilinan in a press statement issued on Tuesday, April 23. Espinosa, who will be based in Manila, will also assist the First Pacific Group in respect of new investments in the Philippines and in the region. With his new role, Espinosa will retire as president and CEO of MediaQuest Holdings and its related subsidiaries and affiliates, including TV5. MediaQuest serves as the investment vehicle in certain media assets of PLDT. Espinosa?s directorships within the group (i.e., PLDT, Meralco and Metro Pacific Investments Corporation, amongst others) will stay. He will also remain a director of MediaQuest. As president and CEO of Mediaquest, Lorenzana ?faces a tough job of turning around TV5, while maintaining the growth momentum at Cignal TV towards leadership in the Pay-TV industry,? said Pangilinan. ?Noel?s background in the telco space and in fast moving consumer goods (FMCG) will be of immense advantage in his ability to bring the worlds of media and telecommunications closer. Our multimedia strategy is crucial to the future of TV5 and of the Group. We extend to, and I assure, Noel our full confidence and unstinting support,? Pangilinan added. In conjunction with his Mediaquest role, Lorenzana will also head the newly-created Multimedia Office (MMO) of the PLDT Group. The MMO is tasked with coordinating a multimedia/multiscreen strategy for the PLDT Group. This will require identifying the points of synergy as well as potential overlaps so as to maximize resources and grow revenues. All content, whether self-produced, acquired or user-generated, will rest with the MMO for customization and sharing across the group?s various platforms. Lim, meanwhile, will assume his new role after having been COO of Digitel Mobile Philippines where he led Sun Cellular. Since the acquisition of Digitel, he has been instrumental in the ongoing efforts to integrate our telco operations. ?He takes on the reins at a time when the mobile industry is maturing and looking for growth opportunities. But as an industry veteran and one who is already familiar with, and to, Smart, we expect him to continue the work that Noel has started while bringing with him some of his successful ?disruptor? mentality,? Pangilinan said. ]]>

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