Is it true that ABS-CBN is inking a partnership with Manny Pangilinan’s media company?
ABS-CBN reportedly is in “advance talks” for a 50/50 partnership deal with MediaQuest Holdings of business tycoon Manny V. Pangilinan.
The Kapamilya network has been airing its program through digital platforms after the decision of Congress against its franchise renewal. Aside from this, some of the Kapamilya shows are also being aired on TV5 such as FPJ: Da King and ASAP Natin ‘To.
Based on the article in PEP, a recent report surfaced that ABS-CBN and MediaQuest are merging their resources and this includes production, news gathering, and operations.
It was also said that this deal will give a “50/50 partnership stake” to both parties. This means that two media entities have equal say when it comes to decision-making, acquisitions, and their programming in the future.
The specifics of combining the operations are still in the process of the negotiation, a source revealed. It was also said that MediaQuest is interested to purchase the properties of ABS-CBN such as the SkyCable, the rival of Cignal TV.
According to the source, one of the Kapamilya network’s demands to MediaQuest is to air its primetime news program TV Patrol, along with the Primetime Bida shows, but TV5 has its own primetime news program, the Frontline Pilipinas.
It is expected that the negotiation between the two media entities will be finalized in a few weeks and the decision will be announced on or before the inauguration of President-elect Ferdinand “Bongbong” Marcos Jr. As of this writing, ABS-CBN and MediaQuest have not released their statements yet regarding this matter.
Meanwhile, reportedly, the Advance Media Broadcasting System (AMBS) of billionaire businessman Manny Villar has already acquired the transmitters of the Kapamilya network in Luzon, and acquiring those in the Visayas and Mindanao regions is still under negotiation.
What can you say about this?
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