TV5 released another statement addressing ABS-CBN’s announcement regarding the termination of their partnership.
“When ABS-CBN lost its franchise in 2020, TV5 gave them a home. When Eat Bulaga! lost its home in 2023, we welcomed them into ours. We have always been a Kapatid to anyone in need. TV5 recognizes the value of ABS-CBN’s well-loved programs to our viewers,” part of the statement read.
TV5 added that ABS-CBN did not comply with the contract requiring timely payment of TV5’s revenue shares, which affected the network’s ability to pay its employees, talents and partners.
“Our Content Agreement with ABS-CBN requires them to remit, on a timely basis, TV5’s share of revenues they collect from advertisers. Despite our repeated appeals, ABS-CBN has failed to pay what is due,” it said.
TV5 said it understands ABS-CBN’s situation following the loss of its franchise, but the network also has its own concerns that need to be addressed. / TRC