ABS-CBN disputes TV5's payment claims amid termination notice

ABS-CBN confirmed receiving a notice of termination for its content supply agreement with TV5 due to alleged payment issues.

ABS-CBN disputes TV5's claims regarding the amounts and payment methods, acknowledging its obligations while seeking more time to resolve the issue.

TV5 stated that ABS-CBN has failed to pay its share of revenues from advertisers on time, despite repeated appeals, which affects TV5's ability to meet its own obligations.

ABS-CBN attributes financial constraints to circumstances beyond its control, such as the loss of its broadcast franchise over five years ago.

TV5 acknowledged the value of ABS-CBN's programs but stated that the failure to meet financial commitments makes it difficult to compensate its own employees, talents, and partners.