Media Prima set to exit Philippine TV

PETALING JAYA: Media Prima Bhd will soon rid itself of a major bane – its loss-making TV operations in the Philippines, Primedia. Media Prima is currently in talks to divest it to the Philippine Long Distance Telephone Co (PLDT).

“The company is in the final stage of the disposal. It will happen very soon,” a source said. “Media Prima will recover its investment. No more exposure. No more losses. Clean cut.”