TWO events occurred very recently that clearly showed how the Philippines has changed, and will continue to change, for the better in the future.
But first, a brief digression: Several months ago, Nine Media Corp., operator of television station 9TV, formerly known as RPN-9,
became part of the ALC Group of Companies. Former Ambassador
Antonio L. Cabangon Chua, the BusinessMirror’s chairman emeritus, is now the chairman of Nine Media.
Last week it was announced that, beginning in January 2015, 9TV will be rebranded as CNN Philippines. The new station will allow CNN International programs to be aired on free television, as well as provide Filipino content to CNN International.
CNN is the undisputed leader in global news gathering and reporting, and is available in more than 200 countries and territories.
Also last week, Swedish multinational retail-clothing company Hennes & Mauritz AB (H&M) opened its first store in the Philippines, specifically in SM Megamall. H&M has stores in 54 other countries. The company generated over $20 billion last year and employs more than 100,000 people worldwide. Its fast-fashion concept quickly brings clothing designs from the catwalk to the retail market.
The first of six H&M stores opened to long lines of eager shoppers, despite the fact that many of the company’s offerings are very expensive, by local standards. Furthermore, the store is not some small cubicle-type operation in an expensive mall; the H&M store in Megamall measures 3,000 square meters.
CNN Philippines and H&M have only one thing in common: They are both very significant and important global brands.
It took H&M about four years to finally begin operations here, and this is not some joint venture with a local partner or made possible through a licensing agreement. H&M’s monetary investment is really insignificant in its big financial picture. However, a publicly listed company like H&M does not want to go back to its shareholders with a line like this: “Our stores in the Philippines? Big mistake. Sorry.”
On the other hand, CNN has no financial interest in CNN Philippines, as foreigners cannot own local media. CNN will actually be paid for training local production and reporting staff. But CNN has something even more important than money at stake: its name and reputation.
Imagine what would happen if there was a “CNN Thailand” during the recent military coup. It would have been shut down or taken over. Its broadcasts would have been censored. That is something CNN would never accept. Several Filipinos may have risen to great heights in international news organizations, but having CNN Philippines means Filipinos working for a Philippine company based in the Philippines, but representing and wearing the CNN logo.
While the service crew at the local McDonald’s wear a multinational brand, a bad burger in Baguio City does not affect a customer in London. Bad reporting by CNN Philippines would affect the CNN brand in Atlanta, Washington, New York and elsewhere.
H&M allows a high-quality global brand to come to Filipino consumers. CNN Philippines allows our country to become global news watchers and use international standards of journalism.
All these considered, we must say that last week was a pretty good week for the Philippines.
Image credits: Jimbo Albano