In the lead-up to the launch, ABS-CBN acquired the rights to many syndicated American imports, such as Wheel of Fortune and The Oprah Winfrey Show.

The flagship station, DWAC-TV owned by the AMCARA Broadcasting Network, signed on about a month before the launch of Studio 23, simulcasting MTV Asia.

On January 1, 2001, ABS-CBN severed their ties with MTV Asia, and Studio 23 gained total control of DWAC-TV.

Studio 23's programming evolved from being "upscale" (as suggested by their previous slogan as the "Premium Network") to a young adult demographic.

Studio 23 has announced, on its 17-year broadcast, that it has ceased its commercial operations on the dawn of Friday, January 17, 2014, right after its final programs Myx and O Shopping, a video presentation was shown.

The following day, an unnamed station aired and used the words "Test Broadcast" on the supposed position of the Studio 23 logo.