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Bilyonaryo - Business

PCC warns MVP, Lopez groups: Be sure TV5, ABS-CBN joint venture won’t lessen competition

  • August 5, 2022
  • Bilyonaryo.com

The Philippine Competition Commission (PCC) has ordered TV5 and ABS-CBN Broadcasting to conduct due diligence to ensure their proposed 65-35 joint venture won’t create a media giant that will lessen competition in the TV industry.

The antitrust watchdog is mandated to ensure fair market competition.

Kapit lang Kapamilya! Katigbak mans up to massive losses suffered by shareholders, promises ABS-CBN nearing recovery

PCC issued the fair warning after bilyonaryo Manny V. Pangilinan revealed his group and the Lopez family are in the “closing stages” of a proposed joint venture between TV5 and ABS-CBN after over a year of haggling.

“PCC trusts that firms undertaking sizeable mergers or acquisitions conduct due diligence to ensure compliance with our antitrust law and engage in consultation with the Commission, where necessary,” the anti-trust watchdog said in a statement.

Suko na! Katigbak admits getting new franchise may not be in ABS-CBN’s plans

“This includes M&A or joint venture transactions with considerable share in the markets they operate in — such as the reported transaction between TV5 and ABS-CBN, two of the top media firms in the country,” it added.

PCC said its job is to prevent the rise of new monopolies or consolidation of market power that may be detrimental to consumers.

May pinagsamahan! Carlo Katigbak’s ties to Marcos Jr might help ABS-CBN get new franchise

GMA Network of bilyonaryo Felipe L. Gozon has emerged as the dominant player in the TV industry since the former media giant ABS-CBN lost its franchise in 2020. TV5 is a far second to GMA.

The National Telecommunications Commission has given ABS-CBN’s free TV channels to ultra bilyonaryo Manny Villar, Pastor Apollo Quiboloy, and the heirs of the late businessman Antonio Cabangon-Chua.

Pahinging prangkisa? ABS-CBN’s Carlo Katigbak spotted at Marcos Jr’s HQ

Valuation, TV Patrol remaining issues: MVP group to retain majority in planned TV5-ABS-CBN alliance

  • Related News Tags: ABS-CBN, Carlo Katigbak, Manny V. Pangilinan, Philippine Competition Commission (PCC), TV5
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NextCampos family adds Kitchen Basics to its portfolio in $99M dealNext

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MVP Group bets big on renewable energy with 16% purchase of SPNEC

Mega-conglomerate Metro Pacific Investments Corp. (MPIC) is set to acquire a 16 percent stake in SP New Energy Corp. (SPNEC), the renewable energy firm owned by tech visionary Leandro Leviste, for P2 billion.

ABS-CBN and India’s OTT market leader join forces to expand reach among global audiences

Lopez-led media giant ABS-CBN has partnered with OTT market leader MX Player to enhance its presence and expand its viewership among international audiences.

NLEX Connector’s first section now open, set to ease traffic in Metro Manila and boost economic development

Bilyonaryo Manny V. Pangilinan-led NLEX Corp. has officially opened the first five-kilometer elevated expressway of the P23 billion NLEX Connector, which is expected to alleviate traffic congestion and improve mobility in Metro Manila.

Laglagan na! Investa claims it has nothing to do with co-founder JM Lapiña’s ‘ventures’ amid alleged investment scandal

Investagrams (Investa), a popular local app for stock market enthusiasts, is distancing itself away from one of its founding fathers who is facing mounting complaints from disgruntled clients of his investment fund.

A new era for Philippine ports: PPA opens largest passenger terminal in Oriental Mindoro

The Philippine Ports Authority (PPA) has inaugurated the largest passenger terminal building in the country at the Port of Calapan in Oriental Mindoro.

MVP Group bets big on renewable energy with 16% purchase of SPNEC

ABS-CBN and India’s OTT market leader join forces to expand reach among global audiences

NLEX Connector’s first section now open, set to ease traffic in Metro Manila and boost economic development

Laglagan na! Investa claims it has nothing to do with co-founder JM Lapiña’s ‘ventures’ amid alleged investment scandal

A new era for Philippine ports: PPA opens largest passenger terminal in Oriental Mindoro

BIR enhances taxpayer experience with anywhere AITR filing and payment

CFO Brian Go buys P110 million JG Summit shares

Buyers, sellers, and CPAs beware: BIR launches offensive against ghost receipts

FNI expects to sustain growth in 2023 on higher nickel prices, China’s reopening

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Investors rejoice! Semirara’s record-breaking performance yields double dividend payout in 2022

Semirara Mining and Power Corp., which is led by the Consunji family, has approved a significant cash dividend of P3.50 per share, resulting in a sizable payout of P14.88 billion.

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China says US firm under investigation for ‘illegal operations’

China is investigating a US due diligence firm for “illegal” activities, a government spokesperson said Monday, after the company accused authorities of detaining five local employees and shutting down its Beijing office.

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ABS-CBN and India’s OTT market leader join forces to expand reach among global audiences

Lopez-led media giant ABS-CBN has partnered with OTT market leader MX Player to enhance its presence and expand its viewership among international audiences.

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New York’s famous Flatiron Building sells at auction

New York’s iconic Flatiron Building — famous for its thin, triangular shape — has sold at auction for $190 million following a court order.

Latest on Bilyonaryo

MVP Group bets big on renewable energy with 16% purchase of SPNEC

Mega-conglomerate Metro Pacific Investments Corp. (MPIC) is set to acquire a 16 percent stake in SP New Energy Corp. (SPNEC), the renewable energy firm owned by tech visionary Leandro Leviste, for P2 billion.

Read More »

Blue, German blood: the Windsors’ continental roots

The history of the British royal family is inextricably entwined with Germany, a heritage that will have pride of place during King Charles III’s first state visit to the country beginning Wednesday.

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Meet Prince Eduard, King Charles’ German cousin

They first laid eyes on each other as children at Buckingham Palace and later crossed paths on the polo field at Windsor.

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First Citizens to acquire collapsed Silicon Valley Bank

First Citizens Bank will acquire significant holdings of fallen lender Silicon Valley Bank, a US banking agency announced late Sunday, as regulators seek to contain an industry crisis.

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China says US firm under investigation for ‘illegal operations’

China is investigating a US due diligence firm for “illegal” activities, a government spokesperson said Monday, after the company accused authorities of detaining five local employees and shutting down its Beijing office.

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Billionaire Jack Ma makes rare public appearance in China

Jack Ma, the founder of tech giant Alibaba, made a rare public appearance in China on Monday after his fall from grace during a government crackdown over two years ago.

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Exclusive!

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Art SG kicked off today with art world legends and collectors showing up with extra vigor after a two-year delay due to the pandemic.

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Laglagan na! Investa claims it has nothing to do with co-founder JM Lapiña’s ‘ventures’ amid alleged investment scandal

ABS-CBN and India’s OTT market leader join forces to expand reach among global audiences

NLEX Connector’s first section now open, set to ease traffic in Metro Manila and boost economic development

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Even the best fall down sometimes: Here are biggest fast food flops of Tony Tan Caktiong’s Jollibee

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Business News

• Laglagan na! Investa claims it has nothing to do with co-founder JM Lapiña’s ‘ventures’ amid alleged investment scandal

• ABS-CBN and India’s OTT market leader join forces to expand reach among global audiences

Social Fancy News

• Sandro Marcos pays tribute to dad Bongbong’s devoted supporter

• Liza Araneta Marcos shares cheerful photo with former First Lady Imelda Marcos

Money News

• Mahirap maghabol! Depositors of bankrupt AMA Bank seek SC’s help to get money back

• InLife’s financial stability and customer focus land it a top spot among insurers

Technology News

• ‘Grim’ criminal abuse of ChatGPT is coming, Europol warns

•

Power News

• Investors rejoice! Semirara’s record-breaking performance yields double dividend payout in 2022

• Walter Brown takes full control of Vires Energy

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• Andrew Tan’s MREIT boosts asset portfolio with P5.3 billion acquisition of four PEZA-accredited buildings

•

Lifestyle News

• Comedy suffering because ‘you have to be careful’ now says Aniston

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• Manny Villar’s Coffee Project dubbed among most Instagrammable cafes in the world

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• Burns routs Young to win WGC Match Play final

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