Press "Enter" to skip to content

Posts tagged as “business”

Summit Media will now be a “digital-first”, stops print edition of its magazine

April 17, 2018

Here’s the full text of Summit Media Press release;

With over 20 million unique monthly users visiting its 15 websites and 33 million more fans following its brands on social media platforms, Summit Media is now the Philippines’ leading digital lifestyle network, and one of the top two local digital media companies in the country. Its expertise in creating data-informed quality content has allowed it to reach digital audiences comprising more than 25% of the country’s Internet population.

This month, Summit Media completes its full digital transformation. The 450-strong company can now be called “digital-first” as it bids farewell to its magazine past, closing the six remaining print editions of Cosmopolitan, Preview, YES!. Top Gear, FHM, and Town & Country. These brands are already thriving online as Cosmo.ph, Preview.ph, Pep.ph (for YES!), Topgear.com.ph, FHM.com.ph, and Townandcountry.ph.

Summit Media president Lisa Gokongwei-Cheng said in an official statement: “As we embark on our new journey towards a wholly digital future, we look back at the values that made us successful, and one thing that stands out is our respect for our audiences. Our brands, each with its own strong voice and well-defined identity, have resonated with our audiences because they stand for something, which is why for 23 years, Summit published the most successful and well-loved magazines in the country’s history.

Today, we embrace the way our highly connected audiences now prefer to consume content. As we follow them from print to digital, we will continue our relentless pursuit and delivery of quality, up-to-the minute content and a dynamic and engaging editorial experience—this time, aided by data, which now pervades and informs many of our editorial decisions.

Being highly data-informed arms us with an even better understanding of our audiences, enabling us to create more stories that appeal to their minds and passions, and empowering us to help our advertisers craft effective messages relevant to their audiences. In the past three years, Summit Media has become the leading creator of digital native advertising content in the country, generating more volume than all our competitors combined. On top of this transformation, the company’s other pillars, Outside of Home (OOH) media, book publishing, and content marketing remain robust.

Summit Media was born auspiciously in an era of pulp and ink. We will always owe a debt of gratitude to the medium, to the brilliant teams whose dedication and efforts created magazines that excelled in that landscape, to the generations of loyal readers who not only supported their favorite brands but even imbibed their tenets and values, and to our advertisers, without whose partnership with and belief in us we would not have succeeded. Moving forward and into the future, we are excited as we continue to reinvent ourselves to become an even more compelling destination in a digital era where opportunities abound.”

Rappler release official statement regarding SEC’s revocation of their license

January 16, 2018

via @rapplerdotcom;

Dear Readers and Viewers,

We thought this day would never come, even as we were warned in the first of week of December last year that the Securities and Exchange Commission (SEC) would be handing down a ruling against us.

We have acted in good faith and adhered to the best standards in a fast-evolving business environment, we were confident that the country’s key business regulator would put public interest above other interests that were at play in this case.

The SEC’s kill order revoking Rappler’s license to operate is the first of its kind in history – both for the Commission and for Philippine media.

What this means for you, and for us, is that the Commission is ordering us to close shop, to cease telling you stories, to stop speaking truth to power, and to let go of everything that we have built – and created – with you since 2012. All because they focused on one clause in one of our contracts which we submitted to – and was accepted by – the SEC in 2015.

Now the Commission is accusing us of violating the Constitution, a serious charge considering how, as a company imbued with public interest, we have consistently been transparent and above-board in our practices. Every year since we incorporated in 2012, we have dutifully complied with all SEC regulations and submitted all requirements even at the risk of exposing our corporate data to irresponsible hands with an agenda. Transparency, we believe, is the best proof of good faith and good conduct.

All these seem not to matter as far as the SEC is concerned. In a record investigation time of 5 months and after President Duterte himself blasted Rappler in his second SONA in July 2017, the SEC released thisruling against us. This is pure and simple harassment, the seeming coup de grace to the relentless and malicious attacks against us since 2016.

We intend to not only contest this through all legal processes available to us, but also to fight for our freedom to do journalism and for your right to be heard through an independent platform like Rappler.

We’ve been through a lot together, through good and bad – sharing stories, building communities, inspiring hope, uncovering wrongdoing, battling trolls, exposing the fake. We will continue bringing you the news, holding the powerful to account for their actions and decisions, calling attention to government lapses that further disempower the disadvantaged.

We will hold the line.

The support you’ve shown us all this time, and our commitment to tell you stories without fear, give us hope.

You inspire courage.

You have taught us that when you stand and fight for what is right, there is no dead-end, only obstacles that can only make us stronger.

We ask you to stand with us again at this difficult time. #SupportRappler

SEC suspends Rappler’s license to operate

January 16, 2018

Securities and Exchange Commission (SEC) cancelled the registration of online news organization Rappler for allegedly violating the Foreign Equity Restriction of the Philippine Constitution.

According to Foreign Equity Restriction of the Philippine Constitution, “(t)he ownership and management of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives or associations, wholly-owned and managed by such citizens.”

SEC cites the funding that it received from Omidyar Network and from Marcus Brauchli’s North Base Media.

You can read SEC’s full decision here.

Since the cancellation of Rappler Incorporated’s license is not yet ‘final and executory’ online news organization will continue to operate.

Disney acquires 21st Century Fox for $52.4 Billion in stock

December 15, 2017

Disney just acquired 21st Century Fox for $52.4 billion in stocks, the reported actual value the deal is approximately $66.1 billion. Once the transaction is close, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold, this will give the Murdoch family trading control of 21st Century Fox for a 4.25% stake in Disney.

The deal is expected to complete in 12 to 18 months, once closed, Disney will acquire entertainment properties like the Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000, it also include movies like Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water and The Martian, and its television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which is the home of popular tv series The Americans, This Is Us, Modern Family, The Simpsons. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.

Not included in the deal are Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network, these will spun off into a new company called “New Fox”. Disney will also inherit an approximately $13.7 billion of net debt of 21st Century Fox.

Once completed, the deal will bring X-men, Fantastic Four and Deadpool back into the fold of Marvel, also owned by Disney, and possibilities of Avengers, X-men, Fantastic Four and even Deadpool doing a movie together is very high.

Lazada to open official Apple ‘Shop-in-Shop’ for Southeast Asia customers

December 9, 2017
Lazada to open official Apple ‘Shop-in-Shop’ for Southeast Asia customers
Apple Official Online Store on Lazada Philippines

Fans of Apple can now buy their favourite Apple products on Lazada, Southeast Asia’s leading eCommerce company.

As an authorised online reseller, Lazada’s customers can choose from a wide range of Apple products including iPhone, MacBook, MacBook Pro, iPad, iPad Pro, Apple TV, Beats by Dr. Dre, and other accessories.

Start shopping this holiday season
Consumers can start browsing this holiday season when the Apple ‘Shop-in-Shop’ on Lazada officially launches today (8th December) in the Philippines, Indonesia, Thailand and Singapore. This will be followed by Malaysia on 11th December, and then in Vietnam.

By shopping on Lazada, customers can choose to pay for their Apple devices through Lazada’s 0% financing instalment plans. Exciting surprises also await Lazada customers looking to score savings from deals offered during the finale of Lazada’s Online Revolution shopping event, the 12.12 Final Sale. More details will be announced later.

The “preferred choice” for global brands
Lazada Group Chief Executive Officer Max Bittner said the Apple ‘Shop-in-Shop’ concept is a testament to Lazada’s reputation as the undisputed and trusted online shopping and selling platform in Southeast Asia. “Lazada is the preferred choice for global brands who, like us, want to drive the explosive growth of eCommerce in Southeast Asia,” said Mr. Bittner, adding: “It also underscores our commitment to give consumers better and convenient access to the world’s best brands and products, especially those from Apple.”