"Both parties feel good about it."
Mediaquest Holdings Inc. Chairman Manny V. Pangilinan speaks to One News Business Editor Regina Lay regarding the landmark investment deal signed with ABS-CBN.
Under the deal, ABS-CBN will acquire 6,459,353 primary shares, or roughly 34.99 percent, in TV5 for P2.16 billion. Cignal Cable will also acquire a minority 38.88 percent stake in SkyCable for P2.862 billion.
Asked if this might finally be TV5’s path to profitability, he said: “That's part of the motivation. You're not marrying somebody to lose money, right?”
Both transactions are expected to close in August 2022.
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