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ABS-CBN, TV5 "terminate" landmark partnership deal

ABS-CBN's proposed acquisition of TV5 shares falls through.
by Rachelle Siazon
Published Sep 1, 2022
Media Quest Chairman Manny Pangilinan, ABS-CBN Chairman Mark Lopez, and ABS-CBN President Carlo Katigbak
Twenty days after agreeing to a landmark partnership deal, ABS-CBN and TV5 decide not to push through with it amid concerns raised by NTC.
PHOTO/S: TV5 / ABS-CBN

Naunsiyami ang dapat sana'y pagsasanib-puwersa ng ABS-CBN at TV5.

Ngayong Huwebes, September 1, 2022, inanunsiyo ng ABS-CBN at TV5 na tinutuldukan na nila ang kanilang investment agreement na naselyuhan noon lamang August 10, 2022.

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Sa kasunduang iyon, nakatakda sanang bumili ang ABS-CBN ng 34.99 percent shares ng TV5 sa halagang PHP2.16 billion. Nakasaad din doong maaaring bumili ang ABS-CBN ng hanggang 50 percent shares pagkalipas ng walong taon.

Ayon sa official statement ng ABS-CBN, pormal na winakasan nila ng TV5 ang kanilang kasunduan sa disclosure nila sa Philippine Stock Exchange (PSE) at Securities Exchange Commission (SEC) ngayong araw.

Sabi pa rito: "The termination was also formalized through a Memorandum of Agreement.

"The Parties confirmed that they have not implemented any of the transactions covered by the Investment Agreement and the Convertible Note Agreement."

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Pati ang nakatakda sanang pagbili ng Cignal TV ng 38.88 percent shares ng Sky Cable Corporation ay hindi na rin tuloy.

Base ito sa hiwalay na termination of Memorandum of Agreement na isinumite ng mga naturang kumpanya sa PSE at SEC.

Ang Cignal Cable ay content provider ng TV5 at subsidiary ng MediaQuest Holdings Inc., na siya ring may-ari ng TV5.

Ang Sky Cable ay pay television at broadband arm ng ABS-CBN.

Nakunan pa ng litrato ang pag-shake hands ni Media Quest Chairman Manny V. Pangilinan kina ABS-CBN President and CEO Carlo Katigbak at Chairman Mark Lopez sa headquarters ng TV5 sa Mandaluyong City noong August 10.

Sinabi noon ni Pangilinan na malaki sana ang ambag ng ABS-CBN para mas makapagbigay ng dekalidad na mga programa para sa mga Pilipinong manonood.

Positibo rin siyang mas mapapalakas ang SkyCable sa investment dito ng MediaQuest.

May hiwalay ring mensahe noon si Lopez tungkol sa layunin ng ABS-CBN na makapagdala ng balita at entertainment sa mas malaking audience sa free TV at radio sa tulong ng TV5.

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Naniniwala si Lopez na ang free TV at radio ay may malaking papel sa "nation building" sa pamamagitan ng pagdala ng "truthful information, effective education and trustworthy public service."

Malaking karangalan daw para sa ABS-CBN ang tiwala at suporta ni Pangilinan.

Pero noong August 25, 2022, naiulat na nahinto ang transaksyon ng ABS-CBN at TV5 upang suriin at sagutin ang ipinukol na isyu sa kanila ng National Telecommunications Commission (NTC).

NTC WANTS TO REVIEW THE DEAL

Sa pagdinig sa Kongreso noong August 24, sinabi ni NTC Commissioner Gamaliel Cordoba na kailangang magsumite ang TV5 ng "clearances" bago aprubahan ng NTC ang anumang "commercial agreement" na saklaw ng ahensya.

Kabilang dito ang clearance mula sa Bureau of Internal Revenue, Department of Finance, Bureau of Customs, SEC, at iba pang local government units.

Binanggit ni Cordoba ang memo ng NTC noong June 2022 na nagsasabing hindi maaaring basta pumasok sa blocktime deals at mergers ang anumang TV network at radio station.

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NOOD KA MUNA!

Partikular na rito ang pagkakaroon ng partnership deals sa kumpanya na may "outstanding obligations to the national government and local government units."

May kaugnayan pa rin daw ito sa ibinasurang franchise renewal ng ABS-CBN ng Kongreso dahil sa alleged violations ng dating broadcast giant.

Read: ABS-CBN Corporation franchise renewal timeline; how much income did ABS-CBN lose in 2020?

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Twenty days after agreeing to a landmark partnership deal, ABS-CBN and TV5 decide not to push through with it amid concerns raised by NTC.
PHOTO/S: TV5 / ABS-CBN
  • This article was created by . Edits have been made by the PEP.ph editors.
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