TV5 Serves ABS‑CBN Termination Notice for Content Supply Deal - BusinessWorld Online
ABS-CBN disputes payment claims and denies willful delays while seeking a 30-day resolution after TV5's termination notice amid financial challenges from lost franchise.
10 Articles
10 Articles
TV5 on termination of deal with ABS-CBN: We also need funds
TV5 has responded to ABS-CBN’s statement on the Kapatid Network’s notice of termination of their content agreement amid the Kapamilya Network’s failure to pay its financial obligations In a statement on Thursday night, TV5 said that while it recognizes the value of ABS-CBN’s programs to viewers, it must “yield to the realities of this business” that it also needs the agreed funds to fulfill its obligations to its own employees. “When ABS-CBN los…
TV5 serves ABS‑CBN termination notice for content supply deal - BusinessWorld Online
ABS‑CBN Corp. said it has received a notice of termination from TV5 Network, Inc. for their television content supply agreement. In a statement on Thursday, ABS-CBN said it “deeply regrets that this action has been taken at this critical juncture in our recovery.” “We have sought additional time to resolve this matter and are working urgently within the thirty-day period we have been given,” the network added. It said the “amounts and manner of …
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