JERRY OLEA
Naglabas ng opisyal na pahayag ang ABS-CBN at TV5 nitong Agosto 24, 2022, Miyerkules ng hapon, kaugnay sa kanilang investment agreement.
Read: TV5 and ABS-CBN landmark deal is now official
Anila, “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.”
Matatandaan na noong Agosto 11, 2022, Huwebes, nagkapirmahan ng landmark deal ang dalawang media company.
Dumalo sa historic agreement sina Smart & PLDT President & CEO Alfredo S. Panlilio, Mediaquest Holdings President & CEO Jane J. Basas, Mediaquest Holdings Chairman Manuel V. Pangilinan, ABS-CBN Chairman Mark L. Lopez, ABS-CBN President & CEO Carlo L. Katigbak, at ABS-CBN Chief Partnership Officer Bobby V. Barreiro.
Ang nasabing transaksyon ay inaasahang makukumpleto bago matapos ang buwan ng Agosto. Ang pagsasara ng transaksyon ay subject sa fulfillment ng ilan pang conditions.
Nagkaroon tayo ng agam-agam sa nasabing historic deal dahil Ghost Month mula Hulyo 29 hanggang Agosto 26, at may pamahiing hindi magandang mag-umpisa ng negosyo o anumang venture sa time period na iyan.
AlphaPrimus Advisors and Picazo Buyco Tan Fider & Santos advised the MediaQuest group on this transaction while the law firms of Romulo Mabanta and Quiason Makalintal advised ABS-CBN.
Hindi nila isinaalang-alang ang Ghost Month.
NOEL FERRER
At least, sana nabe-break na kahit papaano ang network barriers with the merger of ABS-CBN and TV5. Makakabuti ito, kasi pagandahan talaga ang mga entertainment programs.
Pero heto ang medyo hindi napapansin pero marami ring aksyon: kumusta ang News Department ng mga network?
Sa investment agreement ng Kapatid at Kapamilya networks, anong pagbabagong magaganap?
At sa GMA News, napapabalitang maraming magaganap na mga pagbabago rin.
Change is here indeed. I hope it’ll a change for the better talaga!!!
GORGY RULA
The Investment Agreement would allow ABS-CBN to acquire 6,459,393 primary (new) common shares in TV5 representing 34.99% of the total voting and outstanding capital stock of TV5 for an aggregate subscription price of Php2.16Bn.
After the consummation of this subscription, the MediaQuest group’s equity in TV5 would be reduced to 64.79% of the voting and outstanding capital stock and the MediaQuest group will remain to be the controlling shareholder of TV5.
Simultaneously with the execution of the Investment Agreement, the parties would execute a Convertible Note Agreement pursuant to which ABS CBN to invest in a Convertible Note with a face value of Php1.84Bn to be issued by TV5 (the “Convertible Note”).
The Convertible Note would allow ABS-CBN, subject to obtaining applicable regulatory approvals, to acquire additional primary common shares of TV5 after 8 years from the issuance of the Convertible Note, and thereby increase its equity in TV5 to no more than 49.92% of the outstanding capital stock of TV5.
The proceeds of the subscription in the primary common shares and the Convertible Note in the total amount of Php4Bn would fund the capital expenditures and operating expenses of TV5 in pursuing the enhancements of its content and programming and public service offerings.