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Pangilinan: Signing of ABS-CBN, TV5 joint venture nears

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Jekki Pascual, ABS-CBN News

<p>MANILA - A joint venture between ABS-CBN and TV5 could be signed soon, business tycoon Manny Pangilinan said Thursday during a PLDT financial briefing. </p><p>&quot;It&#x27;s fair to characterize that we&#x27;re at the closing stages. I think the likelihood of an agreement with them is high and it&#x27;s near,&quot; Pangilinan said.</p><p>But he also clarified the nature of the deal where ABS-CBN would invest in TV5. Initially, it will be a 35-65 agreement, with ABS-CBN holding 35 percent stake and the rest under TV5 owner Media Quest, Pangilinan said. </p><p>&quot;The model we are working on is it will be a joint venture between TV5, using the platform of TV5 as the free-to-air broadcast platform of both TV5 and PLDT Group and the ABS-CBN group,&quot; he added.</p><p>&quot;We are not acquiring ABS-CBN. We are not acquiring any shares in ABS, instead they will be investing in TV5,&quot; he added.</p><p>Talks between the two media companies have been ongoing for over a year now. They are now looking to sign the deal by August or September as there is a need to follow some provisions of the Bayanihan 2 law.</p><p>&quot;We do have to get board approval as soon as we can. Sometime August definitely, maybe in the next 2 week, 3 weeks,&quot; said Pangilinan.</p><p>Pangilinan also mentioned that there is no need for approval from the Philippine Competition Commission and the National Telecommunication Commission.</p><p>No other details were disclosed.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/entertainment/07/07/22/tv5-host-kc-montero-welcomes-convergence-with-abs-cbn">TV5 host KC Montero welcomes convergence with ABS-CBN</a></li>	<li><a href="https://news.abs-cbn.com/entertainment/07/16/22/its-showtime-debuts-on-tv5-with-live-audience">Mas pinasayang tanghalian’: ‘It’s Showtime!’ debuts on TV5 with live audience</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2126042" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

A joint venture between ABS-CBN and TV5 could be signed soon, business tycoon Manny Pangilinan said Thursday during a PLDT financial briefing. 

Pangilinan: Signing of ABS-CBN, TV5 joint venture nears

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Pangilinan: Signing of ABS-CBN, TV5 joint venture nears

Jekki Pascual,

ABS-CBN News

Published August 04, 2022 09:24 PM PHT

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Updated August 04, 2022 10:03 PM PHT

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