MANILA, Philippines — In a move that has sent ripples through the MVP Group of Companies, Jane Jimenez-Basas has officially stepped down from her role as President and CEO of MediaQuest Holdings, Inc., the media arm of PLDT chairman Manuel V. Pangilinan.
Effective January 9, 2026, Basas has vacated her post at the TV5 Media Center in Mandaluyong, signaling a definitive end to her successful tenure leading the group's media assets, including TV5, Cignal TV, and MQuest Ventures.
A Return to Telco Roots
Industry insiders confirm that Basas is set to focus her expertise back on the telecommunications sector. She is expected to take on a primary senior leadership role at Smart Communications, Inc., the wireless subsidiary of PLDT.
Basas is no stranger to the telco giant; before her high-profile stint in media, she served as a key marketing executive for Smart for over a decade. Her return is seen as a strategic move by Pangilinan to bolster Smart’s operations following recent leadership changes within the wireless unit.
The MediaQuest Transition: Ricky Vargas Steps In
With Basas’ departure, the MVP Group has moved quickly to ensure stability. Ricky Vargas, a trusted longtime lieutenant of Pangilinan and Chairman of the PBA, has been appointed as the Officer-in-Charge (OIC) of MediaQuest.
Vargas is expected to "steady the ship" as the group navigates a challenging landscape for traditional media. His appointment is currently viewed as transitional while the board searches for a permanent successor to lead the country’s third-largest media network and its digital affiliates.
The "ABS-CBN Factor" and Strategic Shifts
The timing of the exit has sparked intense speculation. Analysts point to the recent collapse of high-stakes content deals and the termination of certain supply agreements with ABS-CBN as a possible catalyst for the leadership reshuffle.
While Basas reportedly initially sought to hold concurrent roles at both MediaQuest and Smart, the immense demands of both "pressure-cooker" industries ultimately made a choice necessary. For now, the MVP Group appears to be betting on her proven track record in telecommunications to drive Smart's next growth phase.
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