Media giant ABS-CBN Corp. said there would be no acquisition or sale with rival network TV5 after both companies forged a partnership via a blocktime agreement.
“There are no merger or acquisition plans,” ABS-CBN president and CEO Carlo Katigbak said in response to a query raised by a shareholder during the company’s special stockholders meeting on Tuesday.
Katigbak, however, signaled they were open to expanding their partnership with TV5 and Cignal TV for content. Both of the companies are part of the PLDT Group.
On Jan. 21, ABS-CBN announced a blocktime or airtime leasing deal with TV5, allowing more of its entertainment programs to return to free-to-air TV.
ABS-CBN once op…
Keep on reading: Despite closer ties, ABS-CBN and TV5 merger out of the question