Inquirer
ABS-CBN buys 35% stake in TV5; NTC keeps watch
ABS-CBN and TV5 have finalized a multibillion-peso investment deal, consolidating their content and resources.
ABS-CBN will acquire 34.99% of TV5's voting and outstanding capital stock for P2.16 billion, with MediaQuest remaining the controlling shareholder.
Simultaneously, ABS-CBN will invest P1.84 billion in a convertible note from TV5, which could increase its equity to no more than 49.92% after eight years, subject to regulatory approvals.
The total P4 billion investment will fund TV5's enhancements in content, programming, and public service offerings.
Manuel V. Pangilinan welcomed ABS-CBN's entry and investment in TV5, citing ABS-CBN's strength in Filipino content.
ABS-CBN chair Mark Lopez sees the partnership as a platform to achieve synergies in production content, talent management, and content delivery.
This partnership comes as ABS-CBN has been operating without a free TV franchise for two years.
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News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
A joint venture between ABS-CBN and TV5 is nearing finalization, with business tycoon Manny Pangilinan stating that the agreement is highly likely and close to being signed.
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SAGIP Party List Representative Rodante Marcoleta urged the Philippine Competition Commission (PCC) and the National Telecommunications Commission (NTC) to investigate the reported joint venture between ABS-CBN and TV5.
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Sagip party-list Representative Rodante Marcoleta stated that TV5's partnership with ABS-CBN violates its broadcasting franchise.
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The National Telecommunications Commission (NTC) will scrutinize the partnership agreement between ABS-CBN and TV5.
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