TV5 releases official statement on end of partnership with ABS-CBN
- TV5 releases a statement addressing its ongoing partnership with ABS-CBN
- The network says ABS-CBN’s unpaid financial commitments have strained its ability to compensate employees, talents, and partners
- TV5 stresses that it understands ABS-CBN’s financial challenges but must also prioritize its own operational needs
- The company says its patience must now give way to the realities of sustaining business operations
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TV5 Network, Inc. issued an official statement on Thursday, December 4, to clarify its position regarding its partnership with ABS-CBN.
Source: Facebook
The network emphasized that it continues to recognize the importance of ABS-CBN’s programs, particularly in terms of viewer engagement and audience reach.
According to TV5, the collaboration has long been meaningful, but concerns over unsettled financial obligations have placed the company in a difficult situation.
In its announcement, the network explained that the failure of ABS-CBN to fulfill certain financial commitments has made it harder for TV5 to sustain its own workforce.
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“TV5 recognizes the value of ABS-CBN's well-loved programs to our viewers,” the company said.
In a separate sentence, TV5 added that the unpaid obligations have limited their ability to fairly compensate employees, talents, and partners who help deliver these programs to Filipino households.
Despite the issue, TV5 expressed that it still values its relationship with ABS-CBN.
The statement underscored that both companies belong to the same industry, and therefore, TV5 acknowledges the economic difficulties ABS-CBN is currently facing.
“To be clear, we value the partnership with ABS-CBN and, as part of the same industry, we understand ABS-CBN's financial difficulties,” the network said.
However, TV5 noted that it also needs to confront its own operational challenges.
The network explained that it requires the funds owed to them in order to continue serving their audience effectively.
According to the company, it has shown patience throughout the partnership but can no longer overlook the financial strain.
In its words, “Our leniency, as well as forbearance, must now yield to the realities of this business.”
The network has not disclosed additional details but emphasized that its priority is to safeguard its ability to operate efficiently for the viewing public.
TV5 is currently airing several of ABS-CBN’s top programs, including the hit action series Batang Quiapo and the musical variety show ASAP Natin ’To.
Recently, Christopher de Leon received a heartwarming surprise from the Batang Quiapo team while they were filming a scene. In a video shared by CCM Film Productions, the veteran actor was seen lying on the floor for a take when the cast and crew suddenly began their surprise. At first, he thought Coco Martin was still in character, only to realize moments later that it was actually a birthday celebration, complete with touching video messages from the entire team.
Meanwhile, Chloe San Jose shared photos on social media taken before her performance on ASAP Natin ’To. She returned to the show on Sunday with an energetic rendition of Camila Cabello’s “Havana.” Her last appearance on ASAP was back on December 16, 2019, during the “iWant ASAP Highlights.” Chloe, a content creator, is also known as the girlfriend of Olympic gold medalist Carlos Yulo.
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