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ABS-CBN, TV-5 joint venture deal likely to push through – MVP

PLDT and TV5 Chairman Manny Pangilinan said that the deal between ABS-CBN and TV 5 will likely to push through.

In a press conference, Pangilinan said that he is set to meet with members of the board in 2-3 weeks to discuss the merger.

Currently, ABS-CBN has no free-to-air broadcast franchise after the House of Representatives under the Duterte administration rejected their renewal bid.

The Kapamilya network then entered blocktimer deals with Representative Eddie Villanueva’s ZOE TV which later on became A2Z.

RELATED STORY: Check out these Kapamilya stars who will now have shows on TV5

The network also strengthen their online platforms through the Kapamilya channel and then later on entered a blocktime deal with TV 5.

Shows like ASAP, Ang Probinsyano and It’s Showtime are simultaneously airing with TV 5.

“The Philippine Competition Commission (PCC) trusts that firms undertaking sizeable mergers or acquisitions conduct due diligence to ensure compliance with our antitrust law and engage in consultation with the Commission, where necessary,” the Philippine Competition Commission said.

“This includes M&A or joint venture transactions with considerable share in the markets they operate in—such as the reported transaction between TV5 and ABS-CBN, two of the top media firms in the country,” it added.

Staff Report

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