ABS-CBN and TV5 joint venture is now official
It's now official that ABS-CBN and TV5 join forces in giving viewers top rated shows.
According to its social media account, present during the signing of the investment agr eement were :MediaQuest Holdings Chairman Manny Pangilinan, ABS-CBN Chariman Mark Lopez, and ABS-CBN President and CEO Carlo Katigbak in Aug 10, 202.
Stipulated in the agreement says that ABSCBN gets 34.99 shares of TV5, which means a lot of programs of the former will be seen on the kapatid network.
MediaQuest also invested in Sky Cable, ABS-CBN's pay television and and broadband arm.
In his statement Mr. Pangilinan said...
“We welcome the investment and entry of ABS-CBN and TV5. ABSCBN has always been the leading developer and provider of Filipino entertainment content in the Philippines and overseas as well.
“We now can achieve our cherished goal in greater measure of providing quality content across entertainment, sports and news in the service of the Filipino people.
“We are likewise pleased that our investment in SkyCable, we will support its expanded coverage nationwide on pay TV and broadband and raise its programming portfolio.
“This investment also allows us to improve on public service especially to the younger Filipinos provided by the Knowledge Channel and the DepEd Channel amongst others. I would like to welcome warmly ABS-CBN and all of its staff and talents into TV5 family.”
On the other hand, Mr. Mark Lopez sai d ...
“It’s an honor to speak on behalf of our fellow Kapamilyas at ABS-CBN and Sky and today, to the Kapatids sa TV5 and Cignal.
“The past three years have been marked by many changes not only in the world we live in so much so in the media industry.
“It’s clear that even with the dramatic growth of broadband and online streaming, there are still a lot of significant number of kababayans in many parts of the Philippines that look for free TV and radio as a source of news and entertainment.
“Television and radio will continue to play an important role in nation building, in providing truthful information, effective education and trustworthy public service.
“This was and will continue to be the driving force behind our goal of being the service of the Filipino and this is why we continue to look for ways to get our content and stories to reach as many people and audiences throughout the Philippine archipelago. It is this vision of service that brings us here today.
“We look forward