Philippines programmer and one-time broadcast giant, ABS-CBN, has underscored its pivot away from broadcasting to content creation, refusing to get sucked into talk of a joint venture or a sale to one-time rival broadcast network, TV5.

Instead, responding to the local stock market’s request for clarification of media reports about “evolving and dynamic” partnership talks with TV5, ABS-CBN confirmed the hunt for content distribution partnerships wherever it could find them.

“Our goal as storytellers and content creators is to bring Filipino stories to audiences here and all over the world,” the company said in a note to the Philippines Stock Exchange.

“This is the reason we are exploring content distribution opportunities that allow us to reach wider audiences and pursue our mission of service,” the note said.

These opportunities include local and international partnerships, including a content agreement with TV5.

“We continue to explore various partnership opportunities as they become available to us,” ABS-CBN said.

Yesterday, local news outlet, BusinessWorld, quoted media tycoon and PLDT/TV5 boss, Manny Pangilinan, as saying that the two companies were in “evolving and dynamic” partnership discussions.

Pangilinan was responding to weekend reports that said the companies were in advanced talks for a 50-50 venture.

Related stories:
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▶ 6 April 2022: New peace for old rivals; Philippines’ GMA and ABS-CBN seal historic content deal, open door for broader collaboration
▶ 8 March 2021: TV5 boosts primetime with ABS-CBN; old rivals push new alliances as free-TV reshapes