It was certainly a regular day until news cam out of the investment agreement between ABS-CBN and TV5. To tell you honestly, I wasn't surprised because at the end of the day, ABSCBN has evolved into a company that provides content for the Filipino worldwide. ABS-CBN entered this deal by acquiring 34.99% or 2.16 Billion Pesos of common shares, with MediaQuest still holding controlling position of TV5. There would also be an option to get more stocks after 8 years of no more than 49.92% off of TV5.
The proceeds of the purchase will be sent to fund TV5 operations, specifically content, their programming and also public service. This will certainly change both ABSCBN and TV5's ways of delivering content not just locally, but abroad where ABS-CBN already has a lot of experience in. This will also make TV5's capability to make content in entertainment, public affairs and even sports even greater in the coming years. The deal will be closed this August 2022.
MediaQuest Holdings Chairman Manny Pangilinan says "We at TV5 welcome ABSCBN for their investments. We all know ABSCBN has always been the leading provider of Filipino related content here and abroad. We have cherished values, synergies to provide top quality programs and hope this will continue to grow, succeed in the coming years."
ABSCBN Chairman Mark Lopez adds "This is an opportunity to help TV5 strengthen its broadcast capabilities and our work in content production and talent management will add not just for TV5's growth, but the ability to serve the public. We see the opportunity to help TV5 grow, to work with the best talent off cam and on cam. This partnership will evolve ABSCBN to become a storytelling company. "
You've seen ABSCBN shows increase on TV5 these previous months and surely, they will further enhance their relationships. Really, this makes me so happy!
The proceeds of the purchase will be sent to fund TV5 operations, specifically content, their programming and also public service. This will certainly change both ABSCBN and TV5's ways of delivering content not just locally, but abroad where ABS-CBN already has a lot of experience in. This will also make TV5's capability to make content in entertainment, public affairs and even sports even greater in the coming years. The deal will be closed this August 2022.
MediaQuest Holdings Chairman Manny Pangilinan says "We at TV5 welcome ABSCBN for their investments. We all know ABSCBN has always been the leading provider of Filipino related content here and abroad. We have cherished values, synergies to provide top quality programs and hope this will continue to grow, succeed in the coming years."
ABSCBN Chairman Mark Lopez adds "This is an opportunity to help TV5 strengthen its broadcast capabilities and our work in content production and talent management will add not just for TV5's growth, but the ability to serve the public. We see the opportunity to help TV5 grow, to work with the best talent off cam and on cam. This partnership will evolve ABSCBN to become a storytelling company. "
You've seen ABSCBN shows increase on TV5 these previous months and surely, they will further enhance their relationships. Really, this makes me so happy!
.jpg)
.png)
No comments:
Post a Comment