Media giants TV5 and Abs Cbn already sewn their business alliance up (Joint Venture) which finalized the widely circulated whispers and rumors in the business world.
To begin with, Abs Cbn secures
6.46 million new primary common shares of TV5 which has an assessed value of a mind-boggling 2.16 billion pesos. And this represents 34.99% of Pangilinan's TV5 outstanding capital stock. On the other hand, Pangilinan's Cignal Cable Corp. gets also 38.88% stake of Lopez Family's Sky Cable which has a value of staggering 2.86 billion pesos.
NB: This deal is already mutually terminated.
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