Media Serbisyo Production Corporation (MSPC)—the content creation joint venture between Prime Media Holdings Inc. and ABS-CBN Corporation—is facing ongoing capital depletion after recording consecutive annual losses since launch, triggering talks over potential shareholder cash injections.
Prime Media, which holds the controlling 51% stake, reported cumulative equity losses of ₱58.15 million from the entity between 2023 and 2025. The majority owner logged net loss shares of ₱17.14 million in 2023, ₱25.95 million in 2024, and ₱15.05 million in 2025, completely eroding the carrying value of its equity and advances in the venture down to zero.
To sustain operations, the media venture is considering fresh equity requests from its parent entities.
“There are already discussions by management and the BOD of the joint venture of the intention to have a capital call to address the financing requirements,” Prime Media said.
The planned financing push follows Prime Media extending ₱18.5 million in loans and advances to MSPC in 2025, which included an ₱8 million unsecured loan carrying a 6% annual interest rate.
“Share in net loss in 2024 amounted to ₱25.9 million which is more than the Company’s total investment in and advances to MSPC,” Prime Media added.
Formed in 2023 as a 51-49 partnership, MSPC produces broadcast and digital content for third-party platforms like Philippine Collective Media Corporation.
The entity handles production for DWPM Radyo 630 and Teleradyo Serbisyo, which officially rebranded back to their legacy names, DZMM Radyo Patrol 630 and DZMM Teleradyo, in May 2025.
ABS-CBN, which holds the minority 49% share, similarly reduced its investment carrying value to zero after logging ₱17.9 million in unrecognized cumulative equity losses by late 2025.
Financial statements as of June 30, 2026, show MSPC holding equal current assets and current liabilities at ₱31.65 million, effectively wiping out its net equity while decision-makers negotiate additional capital arrangements.