Is shuttered television network ABS-CBN partnering with Pangilinan-led Cignal, which also operates free TV channel TV5?
It may be happening "sooner than expected," reputed entertainment columnist Ricky Lo reported, citing a source. ABS-CBN has yet to respond to reportr's request for comment on the matter.
On Monday, shares of the Kapamilya network, which went off the air in May 2020, were up 1.12% at noon, compared to a 0.48% decline in the main index.
Lo reported that heads of the networks might make the announcement on what he described as a "tie-up" within the week.
On the content front, TV5 aired several shows starring ABS-CBN stars, but were produced by Brightlight Productions. Two of the shows, SNL and Sunday Kada, aired season enders last Sunday.
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The Lopez-led network lost its franchise bid in July last year, forcing it to lay off many of its workers in the middle of the pandemic.
It returned to free TV on A2Z channel 11 via a deal with the Zoe Broadcasting Network led by Bro. Eddie Villanueva in early October 2020 and made the Kapamilya Channel available on Cignal’s channel 22 later the same month.
Earlier this month, Senate President Tito Sotto filed a bill seeking to grant ABS-CBN a fresh 25-year franchise,saying he wanted to save millions who watch free TV from "mediocrity" and anime that sometimes take the place of news programs.