TV5 and ABS-CBN Terminate Investment Agreement

TV5 Network’s parent company MediaQuest Holdings signed a landmark deal with ABS-CBN Corporation last August 10. However, the Philippine Star reported today that ABS-CBN and TV5 will no longer pursue their P4-billion agreement.

The said agreement would enable ABS-CBN to air their shows on TV5.

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PLDT and MediaQuest Chairman Manuel Pangilinan, ABS-CBN Chairman Mark L. Lopez, and ABS-CBN President and CEO Carlo Katigbak. | Jonathan Cellona via ABS-CBN News

According to an official statement issued by ABS-CBN today (September 1), the decision to terminate the agreement was mutual and was formalized through a memorandum of agreement. Read the full statement below:

Related article: “Ang Ating Mga Kapatid Ay Ang Ating Mga Kapamilya” – ABS-CBN Partners With TV5

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