The said merger is reportedly in its final stage as both ABS-CBN and TV5 try to iron out several creases of the deal.
Manny V. Pangilinan, the chairman of the media conglomerate, MediaQuest Holdings Inc, is reportedly taking his time, before sealing the widely talked-about TV5-ABS-CBN alliance. The said collaboration is said to see both media companies combining their resources to create a more formidable single broadcasting entity.
A report by Bilyonaryo.com, however, claims that Pangilinan is insisting to keep more than 50% of the deal, which means MediaQuest Holdings and its TV network TV5, will have the upper hand in dictating the operational decisions on the partnership. Negotiations are said to be still ongoing and changes may still point the partnership in another direction.
ABS-CBN and MediaQuest Holdings Inc. first struck a block time deal, way back in January 2021, when Sunday noontime musical variety program, ASAP Natin ‘To, and movie block, FPJ: Da King, began airing on TV5. FPJ’s Ang Probinsyano and three other ABS-CBN Entertainment shows followed, more than two months later.
One of the major creases that seem to need ironing out, is the airing of ABS-CBN’s flagship newscast, TV Patrol on TV5. TV5 News head, Luchi Cruz-Valdez is reportedly strongly against the proposal, as that may force her team to make drastic adjustments, including transferring the late afternoon newscast, Frontline Pilipinas, to OnePH, which is under a separate management team. Bilyonaryo reported Valdez-Cruz posed a strong opposition as Frontline Pilipinas has just made fresh adjustments, early this year, to accommodate the entry of veteran Kapamilya newscaster, Julius Babao.
An earlier report also suggested that ABS-CBN’s defunct late-night newscast, Bandila, may be resurrected under the ABS-CBN-TV5 partnership. It is worth noting, however, that even TV5, has its late-night newscast.
Some reports suggest both ABS-CBN’s Carlo Katigbak and TV5’s Manny Pangilinan have already received the blessing of President Ferdinand Marcos Jr. on the deal, and that the partnership is just a few steps away from getting sealed.
