Bilyonaryo Manny V. Pangilinan is upbeat about TV5’s prospects after signing a multibillion-peso investment agreement with ABS-CBN.
Pangilinan told One News’ Regina Lay that he is “relieved” to finally ink the agreements, which also covers Cignal’s acquisition of SkyCable.
“You never get everything you want in every deal, right, so there are many good points about it for both sides and I think it’s best that after the negotiations have ended that both parties feel good about it,” he added.
Pangilinan is optimistic that wielding the Kapamilya brand will finally lift TV5 from years of accumulated losses. Currently, ABS-CBN shows are airing on their channel on a blocktimer deal.
“You’re not marrying somebody to lose money, right? But there’s no assurance we can be profitable,” he added, while admitting that profitability “is part of the motivation” behind the deal.
Delegation is not an issue as far as Pangilinan is concerned, either.
“We’re not splitting any part of the business because the three main verticals –– entertainment, sports, and news –– are all part of the same pot. We blend it together in some shape or form,” he added.
“There’s no ‘this is yours, this is ours’. It’s a real partnership, it’s a real embrace.”
Pressed further, MVP candidly admitted that he’d like to keep TV5 as a sports channel, following its pivot since acquiring the airing of games for PBA, the UAAP, and the Philippine Volleyball League.