#ABS-CBN MediaQuest

After shutting down news about a partnership, MediaQuest Holdings and ABS-CBN have been reported by Media Newser Philippines to be in deeper communication about merging power and resources in production, news gathering, and operations. ABS-CBN reportedly in advance talks with MediaQuest for partnership   According to the report, ABS-CBN already has progressed conversations with Manny Pangilinan, Chairman of MediaQuest regarding the 50-50 partnership deal. The details of the partnership are still vague but MediaQuest is set to be keen on acquiring ABS-CBN properties like Cignal TV's main competitor SkyCable as opposed to just merging. MediaQuest has been seen to increase viewership and rating since they began carrying ABS-CBN original productions like Ang Probinsyano and ASAP Natin 'To giving MediaQuest an equal footing despite ABS-CBN not having a broadcast franchise. In an announcement today, ABS-CBN released a statement that its Sky Cable sale to PLDT will "no longer push through". ABS-CBN has just announced that one of its signature news channels, TeleRadyo, will be ceasing operations effective June 30, 2023. In a press statement released today, the media giant said that ABS-CBN could no longer sustain the channel's operations given that TeleRadyo had been incurring financial losses since 2020. "The company is deeply saddened by this closure and having to part ways with the many passionate and committed people who have made Teleradyo an important source of news and information for many Filipinos," says ABS-CBN. Read more in our articles including "ABS-CBN reportedly in advance talks w/ MediaQuest for partnership" and "ABS-CBN cancels Sky Cable sale to PLDT".