MVP mum on TV5 and ABS-CBN partnership
MANILA, Philippines — Metro Pacific Investments Corporation (MPIC) chairman, president and chief executive officer Manuel V. Pangilinan (MVP) was mum on the reported partnership between TV5 and ABS-CBN.
“I’ve said this before, nothing has been finalized. We’re under confidentiality agreement and, you know, we have to obtain government approval first. So, it’s probably not appropriate to comment at this stage,” MVP told the press when asked about it during the contract-signing of MPIC and Carmen’s Best Group held last Monday.
According to Bloomberg, quoting a Media Newser Philippines report, the two media companies are in advanced talks for a 50-50 venture. Currently, TV5 has a partnership deal with ABS-CBN that allows the latter to air some of its entertainment programs on the Kapatid network, such as FPJ’s Ang Probinsyano, ASAP Natin ‘To, 2 Good 2 Be True and A Family Affair.
Last month, the ABS-CBN Corp. announced that it has been “exploring various 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 earlier.
“Our goal as storytellers and content creators is to bring Filipino stories to audiences here and all over the world. This is the reason we are exploring content distribution opportunities that allow us to reach wider audiences and pursue our mission of service,” it added.
In October 2020, ABS-CBN made an agreement with Zoe Broadcasting which allowed its programs to be shown on A2Z Channel 11. In January 2021, it also collaborated with Cignal TV, TV5, and Brightlight Productions.
Last April, ABS-CBN signed a historic deal with its rival GMA Network, Inc. enabling some of Star Cinema’s content to be shown on GMA.
In May, ABS-CBN, BEAM, 917 Ventures and tradigital entertainment company KROMA Entertainment launched the country’s first multiscreen, real-time interactive channel PIE (Pinoy Interactive Entertainment).
ABS-CBN has likewise entered a content agreement with streaming services such as Viu, iQYi and WeTV iflix.
Meanwhile, MPIC’s latest venture with Carmen’s Best Group is part of the former’s plan to invest in the agriculture sector and reduce the country’s dependence on food imports amid ongoing global supply chain disruptions and high inflation, the statement said.
Under the deal, the Carmen’s Best Group will integrate its assets and operations into The Laguna Creamery, Inc. (TLCI), with MPIC owning a 51 percent equity interest in TLCI and the Carmen’s Best Group retaining a 49 percent equity interest.
“The agricultural sector presents a wide range of possibilities that can help us achieve several goals — to strengthen the food supply chain and augment the accessibility of resources for all Filipinos as well as provide more opportunities for growth in an otherwise underserved business,” said MVP.
Carmen’s Best president Francisco “Paco” Delgado Magsaysay shared, “Carmen’s Best has always had family at the heart of its brand — from the humble beginnings of my father and his friend’s dairy farming project, to the touch of creativity I added to turn it into a modest ice cream business.”
Paco is the son of former Sen. Ramon Magsaysay Jr., who also serves as the director of Carmen’s Best.
MVP shared a light moment with the press during the event where he answered Rocky Road as his favorite Carmen’s Best ice cream flavor.
When asked if they are also planning to get a celebrity endorser for the brand, MPIC chief finance, risk, and sustainability officer June Cheryl “Chaye” Cabal-Revilla candidly said, “Do we need to? Parang Carmen’s Best will sell itself. Ice cream for royalty.”
Speaking of royalty, Chaye generously shared details of her encounter with Prince Charles when she was invited to an exclusive roundtable discussion with him about business sustainability last March at St. James Palace in the United Kingdom. Chaye is “the only Filipino founding member of the Accounting for Sustainability (A4S) Asia-Pacific CFO Leadership Network, an organization established by The Prince of Wales that aims to make sustainable business, business as usual.”
She described him as “funny and smart.” “During the roundtable, he sat with us. He was involved. He was very engaged when we were talking. When he spoke, kasi may speech siya, he only read the first two paragraphs, then he put his kodigo down,” she recalled.
“And then he started speaking from his heart. It was then when I felt his sincerity and authenticity when he started talking about sustainability, impact, climate change and the urgency,” she furthered.
On the sidelines, Chaye asked Prince Charles’ personal assistant (PA) what he’s like as a person and what his regular day is like.
“He starts his day very early. He only eats twice a day — breakfast and dinner. He only takes a walk to clear his mind. Couple of bread in the morning and then dinner na. His schedule dictates his calendar and what he does and where he goes,” disclosed Chaye.
She also asked about Camilla, the Duchess of Cornwall. “Same, whatever she does is dictated by her schedule,” the PA answered to Chaye. “’So, when do they see each other?” continued Chaye. “They will see each other when the schedule says they would see each other. Pero hindi (exactly) sinabi na ganun,” but Chaye got the impression that their schedule is “pre-determined.” Their “sense of duty is very strong,” added Chaye.
She also described MVP as boss: “I wouldn’t have lasted for almost 22 years if he wasn’t a good man. I always describe him as (having a) brilliant mind, good heart and pure soul. Tsaka yung sustainability nobody believed me but MVP is the only one who said OK.”
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