TV5 Network Inc. could become the new home for hundreds of ABS-CBN talents and employees who were laid off following the closure of the media giant. Deprived of a fresh 25-year franchise, the Kapamilya network shut its TV and radio broadcast and will lay off workers from August 31.
The Kapatid network chairman Manny V. Pangilinan (MVP) confirmed that there are ongoing conversations with ABS-CBN talents for the possibility of working with the Kapatid network. He said that while there are ongoing talks, it is not as expansive as one would assume.
The confirmation was officially announced through the Facebook post of News5.
https://www.facebook.com/News5Everywhere/posts/2132923616864381
“There are ongoing conversations with their talents, but it’s not as expansive as one would assume,” the chairman stated.
MVP said that TV5 is being careful in discussing the contractual arrangements that the ABS-CBN talents have with their embattled network.
They said that even though ABS-CBN has already released the contracts of its employees, TV5 would still accept whatever arrangements celebrities have with the Kapamilya network as a sign of respect.
“We’re careful about any contractual arrangements these talents have with ABS. We’d like to respect that,” Pangilinan said.
“And even if they don’t have any contractual obligations with ABS, we’re careful, we respect whatever arrangements they might have with their mother studio,” he added.
Pangilinan also mentioned that in TV5 network’s hopes to further improve the quality of their content, they are willing to employ ABS-CBN’s crew who works behind the camera as well.
“I’m quite keen about seeing what we could do to employ their cameramen, their directors, scriptwriters, whatever else those who are behind the camera so that we could provide employment as much as we can moving forward,” Pangilinan said.
“Of course, the part of that is the ability to generate the new content on the part of TV5,” he added.
Meanwhile, when asked if TV5 has already been making money, Pangilinan admitted, “I wish it did,” after a brief pause he added, “but Cignal TV did.”
The ABS-CBN network has already released the contracts of its employees and talents although those who belong to Star Magic will still be managed by the network’s talent management arm.
With this ABS-CBN workers can now accept offers from other networks if they wish to given the condition that they will first approach and talk to the ABS-CBN management.
With no franchise, the network was left with the choice of implementing a retrenchment program, as it operates in a limited capacity.
ABS-CBN has yet to disclose how many employees of the network and its subsidiaries would lose their jobs but assured that they will mitigate the pain that will be felt by those affected, including paying out separation and retirement benefits and providing job placement programs.
ABS-CBN has reported P30 million to P35 million in losses every day that it is off the air, and that its closure would result in the loss of livelihood of more than 11,000 employees.
Some of the Kapamilya stars have already accepted offers from TV5 including Pokwang, Ria Atayde, and Jessy Mendiola.
Kapamilya broadcaster Karen Davila is set to grace one of the TV5 current affairs shows, sparking network transfer rumors.
While Karen is one of the most vocal about her support for ABS-CBN and its fight for its franchise, the Kapamilya journalist was recently the subject of rumors over an article reporting her upcoming guesting on Luchi Cruz Valdes’ TV5 program Usapang Real Life.
Pangilinan, who is also the President and CEO of PLDT, recently hired ABS-CBN’s multi-awarded international news anchor Cathy Yang as Group Head of Corporate Communications. Yang replaced PLDT’s longtime communications chief, Mon Isberto.
Yang will also oversee the communications needs of the broader MVP Group of Companies, of which PLDT is part. She takes on the rank of first vice president and will be part of PLDT’s top management team.
The veteran news anchor’s move to the corporate world comes after ABS-CBN News Channel’s (ANC) parent firm, ABS-CBN Corporation, laid-off employees across its subsidiaries after a House committee rejected its bid for franchise renewal.
In 2017, TV5 partnered with multimedia sports entertainment giant ESPN to reposition itself as a sports and news channel. Prior to that, the network was producing its own entertainment programs and tapping big-name celebrities with high talent fees like Superstar Nora Aunor, Megastar Sharon Cuneta, Diamond Star Maricel Soriano, Aga Muhlach, Derek Ramsay, and late Comedy King Dolphy.
TV5 Network Inc. is a Filipino media company that is owned by MediaQuest Holdings, an investee company of Philippine telecommunications giant PLDT, through its Beneficial Trust Fund, and headed by business tycoon Manuel V. Pangilinan.
