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COA Audit Reports of PTV, IBC released

The Commission on Audit (seal pictured) is responsible for auditing government agencies and government-owned and-controlled corporations. Last Friday, the two government stations has released its audit report.

The Commission on Audit (seal pictured) is responsible for auditing government agencies and government-owned and-controlled corporations. Last Friday, the constitutional commission released the audit reports of two government stations.

THE COMMISSION ON AUDIT (COA) recently disclosed the audit reports for calendar year 2014 of the two government-owned stations, People’s Television (PTV) and Intercontinental Broadcasting Corporation (IBC) to the public Friday, July 31.

PTV: The equity has been doubled!

According to the audited financial statements, Telebisyon ng Bayan almost doubled its net worth with PHP 689.8 million from last year’s PHP 373.4 million. In the statement of comprehensive income, the sales revenue was slightly dipped to 133.2 million from PHP 143.6 million last year but made a net income with PHP 316.4 million (inclusive of subsidy) or 28.4% return on investment (ROI).

Factors behind such a short heyday in Visayas Avenue, according to the audit report, include coverage of:

  • State visit of US President Barack Obama (April 28-29),
  • World Economic Forum on East Asia (May), and
  • Congressional hearings
    • Pork Barrel Scam (since 2013 – June) and
    • Makati City’s anomalies (September – ongoing), just to name a few

Other than political coverage, the launch of their first Koreanovela “Here Comes Mr. Oh” (currently on hiatus), which garnered 800,000 viewers, was also behind such positive performance.

Meanwhile, her younger sister in Broadcast City told another side of the story.

IBC 13 falls off bottomless cliff

The audited financial statements reflected on Channel 13 the continual suffering, both in financial position and performance. The balance sheet dictates the worst picture with the bloated capital deficiency of PHP 893.5 million — 23.9% more than last year’s restated value of PHP 721.3 million. The most notable liability with priority on the network, the Retirement/Separation Pay Payable, accrued PHP 654.7 million (up 12.4% from last year) that it cannot easily be paid with all assets combined.

Operation wise, IBC suffered the worst net loss (numerical and magnitude wise) with PHP 172.2 million (2.5 times the amount than last year with PHP 70.4 million). Digging deeper into detail, gross income and operating costs are directly related to sales revenue but administrative costs continue to rise annually.

Factors of failure, aside from the most obvious perennial obstacle on relying EZ Shop, the sole home shopping to make the network’s ends meet, include the opportunity loss for the three-month trial of the primetime block deal with Asian Television Content Corporation (ATC) from June 2 to August 31. ONE FCKawaii International,  and the PBA D-League were not able to spare them from operational bottomless pit at the last minute.

Details of financial information on two networks are now available on the COA website.


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[Photo courtesy of Wikimedia Commons / Commission on Audit]

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The Turf’s TV Zeitgeist 2014: GMA

THE NEW YEAR will be handed over in 6 days but before we bid adieu to 2014, here is the look back of what happened over the boob tube on GMA and its sister channel, GMA News TV. (more…)

Remembering Supertyphoon ‘Yolanda’ (Haiyan)

The Philippine flag hoisted above the ruins made by Supertyphoon Yolanda signified the resilience of the people.

The Philippine flag hoisted above the ruins made by Supertyphoon Yolanda signified the resilience of the people.

NOVEMBER 8, 2013. Surely, it will be a date that will never forget in the history of the Philippines.

Supertyphoon “Yolanda” (Haiyan) ravaged Eastern Visayas with 230 km/h winds. The storm cut across the central part of the country westwards, accruing 6,000+ deaths and incurring PHP 89.6 billion in damage.

As we commemorate the anniversary of the strongest storm of this century this weekend, the Turf looked back on how our media of the small screen played their perspectives before, during and after the treacherous natural disaster.

 
(more…)

Independence Day 2014: Of Celebrations and Of Questions (Part 2)

[This post is the last of two parts for the coming 116th Philippine Independence Day. The second part focused on the de-motivation of the citizens and what can we do to end such apathy.]

Kalayaan2014logo

The Independence Day logo this year actually serves another year of celebrating our boredom rather than our freedom.

IN THE FIRST PART of this Independence Day commentary, you have read about the reactions and responses of the government and the media on celebrating the most important holiday among the of five legal holidays stamped into our typically huge wall calendars related to our country (others being Araw ng Kagitingan, National Heroes’ Day, Bonifacio and Rizal Days).

This time, Timow’s Turf will analyze and formulate the reactions under the real eyes of the common Juan de la Cruz. (more…)

The 4 Bs: Back-to-School Season, Boxer’s Death, Business Forum and Busted Lawmakers

SINCE THE AUTHOR-ADMIN lacked an idea on what to write on one patch of the state of the Philippine television this week, he will go for a serious mode about the real state of the country. We’re going to tackle four subjects: Back-to-school season, Boxer’s death, Business Forum and Busted Lawmakers.
(more…)

People Power: A Piece of History Netizens Will Rather Forget

[NOTE: The author wishes to apologize to leaders of faith about the post you are about to read. He says that taking WordPress is a controversial and risky decision in his Internet experience. He will accept any criticism from this post. Thanks for bearing with us on Timow’s Blog.]

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The People Power Revolution is a bloodless revolution between the tyrannical State (the Marcos bust in La Union, destroyed in 2002) and the solidarity Church (the EDSA Shrine built in 1989). Sadly, many Filipino netizens now worshiped Marcos rather than the generous, merciful, compassionate and truthful God.

BOTH 1986 and 2014 begin in the same day of the year. Last February 7, those two years brought significance to the world. In 2014, Sochi commences the world on the 22nd Winter Olympics and in 1986, in our country, a snap election is held.

Focusing on the latter, the snap election’s result became a big outrage due to manipulation of the free people’s votes by the dictator’s stalwarts. Thus, a million people marched to EDSA, where the Camp Crame is located with no lethal weapons but rosaries and roses. For four days, the dictator and his family escaped freely from Malacanang.

This year, I’m sorry to say, most netizens will rather forget this piece of contemporary Philippine history. How did this happen? Such method of “fighting ignorance” includes (1) by ignoring the supposed objective of this peaceful revolution and (2) revising or deleting extremely the 1986 happening in our history books.  The methods are initiated exceptionally by the politically motivated social media scholars (PMSMS) since 2011. (more…)