TV5, ABS-CBN finalizing joint venture agreement – Manuel V. Pangilinan
TV5 at ABS-CBN logo
Businessman Manuel V. Pangilinan (MVP) disclosed on Agosto 4, that his MediaQuest Holdings Inc., which owns TV5 is in concluding talks to form a joint venture with ABS-CBN Corp.
At the sidelines of a recent PLDT media briefing, Pangilinan told reporters that the two media companies are forming a joint venture of which TV5 will own 65 percent while Lopez-led network will own 35 percent. The two networks have an existing block time leasing agreement under which ABS-CBN’s popular shows are aired on TV5.
ABS-CBN was shut down on May 5, 2020, after the Congress voted to deny the renewal of its broadcast franchise.
