Within this month, the Kapatid network will transform into a joint venture station between telco giant PLDT and media conglomerate ABS-CBN.
In a statement during a PLDT briefing on Thursday, the telecommunications giant’s chairman Manny V. Pangilinan confirmed that their talks with ABS-CBN over a partnership in TV5 will be completed this month. Pangilinan says that his team is expected to close a deal with the Kapamilya network in the coming weeks — within two to three weeks, he said.
He adds that ABS will initially acquire a 35 percent share in TV5 Network, Inc., a fully owned subsidiary of PLDT’s MediaQuest arm since 2010. Pangilinan has also held the chairmanship position at TV5 since then.
MVP also clarified that MediaQuest will not acquire a stake in ABS-CBN Corporation. Instead, it is only “ABS-CBN that will invest in TV5,” he said.
Regulatory-wise, Pangilinan says that the deal will no longer have to be approved by both the National Telecommunications Commission and Philippine Competition Commission.
Meanwhile, as far as the network’s programming is concerned, TV5 is set to become a destination for content from both ABS-CBN and MediaQuest, which includes Cignal TV and PhilStar Group. It is to be noted that ABS-CBN first collaborated with Cignal to air their shows on TV5 in 2021, which began with ASAP Natin ‘To and FPJ Da King on Sunday afternoons.
Currently, there are five Kapamilya shows during weekdays, and three more during the weekends (excluding It’s Showtime’s Saturday episodes). Brightlight Productions’ Tropang LOL and Rated Korina have also since become available on Kapamilya Channel and A2Z after launching on TV5 in October 2020.
As for MediaQuest, its satellite pay TV arm Cignal is responsible for producing original content for TV5 and its own suite of channels via Cignal Entertainment. Current Cignal shows on 5 include programs from BuKo, Sari-Sari, One PH, One Sports, and more.
It is yet to be seen whether this upcoming deal will also transcend beyond entertainment and see news and current affairs shows from ABS-CBN air on TV5.
As for ABS-CBN Corporation’s side on this story, they have yet to publicly release a statement on the matter. But during the ABS-CBN’s annual stockholders meeting last week, ABS-CBN president and CEO Carlo L. Katigbak has given insights on their current set-up with TV5, which he described to be in the “form of content licensing and content-sharing agreements.”
Apart from TV5, ABS-CBN shows are also available via other free-to-air television channels like Zoe Broadcasting Network’s A2Z channel and GMA Network (for select Star Cinema movies). ABS has also teamed-up with Globe and BEAM to launch PIE channel in May.