#abs cbn tv5 deal

TV5 has recently issued a statement announcing that ABS-CBN and TV5 have agreed to a pause in their closing preparations to address issues raised by the NTC and certain legislators. ABS-CBN and TV5 recently announced that they have reached a partnership deal where ABS-CBN will acquire shares of TV5 amounting to PHP 2.16 billion. ABS-CBN Corp and TV5 have reached a partnership deal where ABS-CBN will acquire shares of TV5 amounting to PHP 2.16 billion. In a report by ABS-CBN News, the investment agreement allows ABS-CBN Corp 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 PHP 2.16 billion. MediaQuest, which currently owns 99.67% of TV5, will have its ownership reduced to 64.79% after the deal. ABS-CBN will also acquire additional shares in TV5, which will increase its shares to 49.92% after 8 years. We look forward to be of greater service to the public as we come together in taking TV5 to the next level," said ABS-CBN Chairman Mark L. In an effort to reach wider audience, the Lopez-owned network has recently made the ABS-CBN TVplus, aka “Ang Mahiwagang Blackbox” available at Lazada. Read more in our articles including "ABS-CBN, TV5 to pause closing preparations to address issues raised by NTC, legislators" and "ABS-CBN to acquire TV5 shares worth PHP 2.16 billion".