ABS-CBN confirms TV5 gave notice of partnership termination, reacts to allegations

• ABS CBN released an official statement addressing reports that TV5 plans to end their content partnership due to alleged unpaid dues
• The network said the claims are disputed and that they are urgently working to meet their obligations while dealing with financial struggles caused by their 2020 franchise loss
• ABS CBN emphasized that any delays in payment were not intentional and explained that the shutdown severely reduced their revenue and forced them into years of losses
• They assured viewers that even if the partnership ends they will continue finding ways to reach Filipino audiences and remain committed to serving the public

ABS-CBN has released a lengthy official statement addressing reports from Bilyonaryo that TV5 is set to terminate its content partnership with the Kapamilya network due to alleged unpaid dues. According to the network, it has already received a formal notice of termination from TV5 regarding their TV Content Supply Agreement, a move ABS-CBN described as deeply regrettable, especially as the company continues to recover from the effects of losing its franchise.

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ABS-CBN clarified that the financial claims reportedly owed to TV5 are still being disputed. The company emphasized that it recognizes its obligations and is taking urgent steps to address them, requesting more time to settle the matter within the 30-day deadline given. The network stressed that delays in payment were never intentional, pointing instead to severe financial constraints brought about by events beyond their control—including the shutdown of their franchise in 2020 and the subsequent denial of their franchise renewal.

The company reiterated that the franchise loss drastically reduced its revenue, pushing ABS-CBN into financial losses for the first time since its revival after Martial Law. While some operations have stabilized, ABS-CBN said it continues to operate at a loss as it rebuilds th network.

ABS-CBN also assured its audience that if the partnership with TV5 is ultimately terminated, the network will still find ways to reach Filipino viewers.

The statement ended with ABS-CBN thanking its employees, talents, advertisers, supporters, and audiences, promising to provide updates as developments unfold.

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Right now, TV5 is airing some of ABS CBN’s biggest shows, including the hit action series Batang Quiapo and the musical variety show ASAP Natin ’To.

Earlier, Christopher de Leon was surprised by the Batang Quiapo team while they were filming a scene. A video from CCM Film Productions showed him lying on the floor for a take when the cast and crew suddenly began the surprise. At first, he thought Coco Martin was still acting, but he later realized it was a birthday celebration, complete with sweet video messages from the whole team.

In another story, Chloe San Jose posted photos on social media taken before her performance on ASAP Natin ’To. Chloe made her return to the show on Sunday with a lively performance of “Havana” by Camila Cabello. The last time she performed on ASAP was years ago, on December 16, 2019, during the “iWant ASAP Highlights.” Chloe is a content creator and the girlfriend of Olympic gold medalist Carlos Yulo.

Source: KAMI.com.gh