ABS-CBN Speaks Out After TV5 Ends Their Content Partnership

ABS-CBN has released an official statement after receiving a notice from TV5 ending their TV Content Supply Agreement. The network said the decision came at a difficult time, especially as they are still trying to recover from the massive challenges brought by the loss of their broadcast franchise.

According to ABS-CBN, the financial claims mentioned in earlier reports are still being disputed. They acknowledged that they do have obligations to TV5, but emphasized that they have been asking for more time to settle the issue. The company is currently working within the thirty day deadline given to them, a timeline they describe as tough considering their situation. Still, they stressed that they intend to honor their commitments to all partners and remain open to fair solutions.

The network also denied accusations that they intentionally delayed payment. They explained that the financial strain they are experiencing is a direct result of events that were beyond their control. In 2020, ABS-CBN was forced off air after the NTC issued a cease and desist order, followed by the denial of their franchise renewal two months later. This shutdown severely cut their revenues and led to huge losses, something the company had not experienced since it reopened after Martial Law.

ABS-CBN said that even though some revenue streams have started to recover, the organization still operates at a loss. Despite this, they highlighted the progress they have made since shifting their operations toward being a storytelling and content company. They noted that while the turnaround is not yet complete, their direction remains steady.

The statement also assured their audiences that if the partnership with TV5 officially ends, ABS-CBN will still find ways to deliver content to Filipinos. They said they have survived major setbacks before and will continue to do so while serving their Kapamilya community.

The company thanked its employees, talents, advertisers, and loyal viewers for their support, saying that this unity strengthens them during these challenges. ABS-CBN promised to provide more updates as soon as new developments arise.