The two giants in the media industry have officially partnered: ABS-CBN and MediaQuest (operator of TV5).
After almost a year of negotiation to give way to each other’s demands, the two networks have finally reached an agreement and decided to put their respective brands under one corporate banner.
With this, ABS-CBN and MediaQuest will combine their power and resources, as well as their companies’ structures, with the latter’s free TV channel, TV5, as the main platform.
“The model we are working on is it will be a joint venture between TV5, using the platform of TV5 as the free-to-air broadcast platform of both TV5 and PLDT Group and the ABS-CBN group,” Pangilinan said during a PLDT media briefing last week.
“We are not acquiring ABS-CBN. We are not acquiring any shares in ABS, instead they will be investing in TV5,” he added.
There are many speculations about the partnership equity, some say it’s 35% for ABS-CBN and 65% for MediaQuest, some also say it’s 50/50.
Cignal Cable Invests in Sky Cable
As part of the recently concluded partnership between the two media giants, Cignal Cable has officially invested Php 7.2B in Sky Cable Corporation.
The information was disclosed through a letter sent by Cignal Cable to the Philippine Stock Exchange (PSE) for compliance.
