Atty. Larry Gadon states that TV5 had dodged the possibility of getting under the scrutiny of lawmakers following the mutual termination of the merger with broadcasting giant ABS-CBN.
“Sa tingin ko ay nahimasmasan dito ang TV5 at naisip nila na delikado ito para sa kanila sapagkat ang ABS-CBN kasi meron nang sumpa iyan e, and hindi na nila matatanggal iyon,” said Atty. Gadon in an interview with SMNI News.
The infamous lawyer, who failed to land a spot in the 2022 elections, said that it was a wise decision on the part of TV5 to not sell 35% of their stocks to the embattled network.
“Mabuti na lamang at itong TV5 ay napagdesisyunan na huwag na lang ituloy yung kanilang plano na ipagbili ang 35% ng kanilang stock holdings dito sa ABS-CBN,” he added.
He surmised that if the deal progressed, TV5 would have risked suffering the same fate as ABS-CBN did in 2020.
“Magiging sanhi ito ng pagka-revoke ng kanilang franchise ng TV5 or magiging sanhi ito ng hindi pagbibigay ng renewal ng kanilang prangkisa pag ito ay nag-expire na sapagkat nagkaroon sila ng violation sa pamamagitan ng pagkakaroon ng pagsanib sa ABS-CBN. At alam naman natin na ang ABS-CBN ay napakarami pang issues na hindi pa nare-resolba hanggang sa ngayon at kaya nga sila ay hindi nakakuha ng bagong prangkisa,” explained Gadon.
Earlier, TV5 and ABS-CBN informed the Securities and Exchange Commission and the Philippine Stock Exchange that they are no longer proceeding with the merger.
