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Statement: Update on ABS-CBN's investment agreement with TV5

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ABS-CBN News

OFFICIAL STATEMENT To address the issues which have been raised by certain legislators and the National Telecommunications Commission on the proposed investment by ABS-CBN for a minority interest in TV5, ABS-CBN and TV5 have agreed to a pause in their closing preparations. This pause will give the space for both media organizations to respond to the issues, and accommodate any relevant changes to the terms. Both ABS-CBN and TV5 believe that an agreement between the two media companies will have a favorable impact on Philippine media, and on free-to-air television—which remains the most affordable and extensive source of entertainment and public service to Filipinos.news.abs-cbn.com is the official news website of ABS-CBN Broadcasting Corp.

To address the issues which have been raised by certain legislators and the National Telecommunications Commission on the proposed investment by ABS-CBN for a minority interest in TV5, ABS-CBN and TV5 have agreed to a pause in their closing preparations. 