The Philippines is on high-alert for a new JV between old broadcast foes – ABS-CBN and TV5 – following comments made by PLDT chairman Manny Pangilinan during a financial briefing this week.

Speculation about the deal has been rife for months.

Pangilinan said the two were now in the final stages of their discussions and that the likelihood of successfully concluding an agreement that gave ABS-CBN access to TV5’s free-TV platform was high.

The deal will most likely close with ABS-CBN investing in TV5 rather than PLDT/TV5 acquiring a stake in ABS-CBN.

An announcement is expected by early September.

ABS-CBN lost its broadcast network after Congress declined to renew its franchise in 2020.

Related stories:
▶ 7 June 2022: ABS-CBN reaffirms pivot; in play for deeper content alliances with anyone/everyone, one-time broadcast great says amid rumours of TV5 talks
▶ 5 November 2020: PLDT head Pangilinan walks away from Philippines’ SkyCable bid; cites anti-trust risks