Manila Bulletin
MediaQuest airs side on 'It's Showtime' transfer
MediaQuest Holdings, owner of TV5, has explained that the transfer of "It's Showtime" and the non-renewal of their contract with the network was a purely business decision made by both parties.
The contract of "It's Showtime" was ending on June 30, and ABS-CBN decided not to renew it after TV5 offered a new 4:30 p.m. time slot.
ABS-CBN respectfully declined the TV5 offer as they have already built and nurtured their audience on the noontime slot, leading them to transfer to GMA's GTV channel.
MediaQuest executives stated that the main consideration was that "It's Showtime" was a blocktimer, whereas they own a stake in the new noontime show of veteran hosts Tito, Vic, and Joey.
Under their "investment agreement," MediaQuest will hold a 51 percent equity in TVJ Productions.
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