The media company will be teaming up with one of its partner-talents for the new complex.
In a contract signing event on Monday, February 10, Mediaquest Holdings, Inc., TV personality Willie Revillame, and Golden Pacific Holdings, Inc., signed an agreement for the construction of a new studio complex.
The said piece of infrastructure, to be called ‘MVP Quest,’ is set to rise on a plot of land beside the TV5 Media Center in Mandaluyong.
As per initial estimates, the 10-storey building cost is pegged at Php 4 billion, with the first phase targeted to be finished before the end of 2025 and completed in two-and-a-half years.
“This is a special building, studio, dedicated to Willie’s show [Wil To Win]. But when he’s not using it, it can be used for other shows of TV5,” Mediaquest chairman Manny V. Pangilinan said.
Pangilinan also disclosed that his group provided the land, but the construction expenses will be shouldered by the other party.
At present, three studios are confirmed to be included in the masterplan, with Studio W for ‘Wil To Win,’ Studio E for ‘Eat Bulaga,’ and Studio Q for other productions of the Mediaquest group.
TV5 NOVALICHES FOR SALE
Meanwhile, Mediaquest President and CEO Jane J. Basas also confirmed that ‘MVP Quest’ will be the next location of ‘Wil To Win,’ which is being produced from TV5’s Novaliches studios in Quezon City.
Basas also revealed that the company is looking to dispose the said TV5 complex through a sale, with proceeds partly going to fund the construction of the new Mandaluyong building.
TV5 Novaliches served as the Kapatid network’s main headquarters from the 1992 relaunch of ABC-5 up to 2013, when it moved most of its operations to TV5 Media Center.
Since then, only select productions of the network were filmed in the Quezon City property, with recent examples being the likes of game shows ‘Rolling In It Philippines,’ ‘Spingo,’ and ‘Wil To Win.’
TV5 MEDIA CENTER
Meanwhile, the Mandaluyong site has been the official home of the network since December 2013, with productions of News5 being the first tenants to make the move to the news building back then.
Supposedly, there was an original entertainment wing to be built beside the news building, but that was later changed to an office tower called the Launchpad building.
At present, there are three main TV studios inside the media center. Studio 4 is where ‘Eat Bulaga’ emanates from, with Studio 5 dedicated to ‘Frontline Pilipinas’ and the live programs of News5 and Cignal TV, and Studio 6 for ‘Face To Face: Harapan.’
Radio booths for True FM and One PH are also inside the said building.