The chairman of TV5 Network Inc. is open to the possibility of a block-time agreement with ABS-CBN Corp. if Congress refused to renew the franchise of the Lopez-led broadcast network.
“We have lots of highways, setting aside the politics, if they want to block time … We don’t have much entertainment content after all,” TV5 chairman Manuel Pangilinan said.
Pangilinan, however, said there were no ongoing discussions between the two networks.
“They haven’t approached us. Nobody was talking to us,” he said.
“I don’t want to be presumptuous, to come and talk to us. We don’t want to think about it. We don’t want to take the first step,” he said.
Pangilanan, however, said he was “reluctant” to any possible agreement with ABS-CBN because of the political issues.
ABS-CBN’s legislative franchise will expire on March 30, 2020.
Five bills were filed in Congress to seek the renewal of ABS-CBN’s legislative franchise.
President Duterte earlier said ABS-CBN’s franchise would not be renewed once it expired on March 2020. Duturte accused ABS-CBN of not airing his paid political advertisements during the 2016 presidential campaign.
Under Republic Act No. 3846, radio and television stations are required to seek franchise from Congress.
ABS-CBN’s current franchise was approved through RA No. 7966 on March 30, 1995.
ABS-CBN earlier reported a 53-percent increase in net income to P2.26 billion in the first nine months of 2019 from P1.48 billion in the same period last year.
ABS-CBN generated consolidated revenues of P32 billion as advertising and consumer sales increased 8.6 percent.
Advertising revenues went up 15 percent, on the growth of political placements and regular advertising. Excluding political placements, regular advertising rose 5.6 percent.
Consumer sales also reached P302 million on the back of higher TVPlus Boxes sold and subscription revenues from Sky Cable.
