MANILA, Philippines — Negotiations to add more ABS-CBN shows on TV5 are nearing conclusion, business tycoon Manuel V. Pangilinan said yesterday.
In an interview with reporters, Pangilinan said he expects TV5 Network Inc. and ABS-CBN Corp. to wrap up their discussions soon, although he admitted that both parties are in no rush to close the deal.
“There is no regulation when we should finish. I think, hopefully, soon enough,” said Pangilinan, who owns TV5’s parent MediaQuest Holdings Inc., a subsidiary of PLDT Inc.
On the airing of additional ABS-CBN shows on TV5, he said, “I think we are discussing that. I don’t think there’s a definitive date when they will be shown.”
He deferred comment on the National Telecommunications Commission’s order for broadcast networks to submit a list of their block time contracts. On Monday, the NTC gave broadcasters 15 days to file their recommendations on a draft memorandum circular (MC) limiting rented airtime.
The proposed MC by the NTC limits block time shows in licensed broadcast networks to only 50 percent of their daily airtime.
Block time refers to the broadcast industry practice of selling portions of airtime to show content and programs that are made by another media firm, like TV5’s airing of ABS-CBN materials.
“Licensed RTV (radio and television) broadcast stations may sell block time to qualified persons or entities provided that such airtime shall not exceed 50 percent of the daily airtime broadcast of the station,” the draft MC read.
Advertising revenues of ABS-CBN declined by 25 percent to P5.29 billion last year from P7.06 billion in 2020 due to the cease and desist order slapped by the NTC against the network giant. Further, the Lopez-led firm lost its legislative franchise when Congress denied its application for a renewal.
At present, viewers can watch ABS-CBN shows on free analog and digital terrestrial TV through the A2Z and TV5. Likewise, the firm has started moving its content to online platforms, entering into agreements with Netflix, Viu, WeTV and iQIYI for shows and with Spotify for music.