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ABS-CBN Corporation and the MVP Group’s TV5 Network Inc. have been forced to terminate their investment agreement, including the deal involving their cable TV units, following moves by legislators and various regulators to block it.
In a disclosure to the Philippine Stock Exchange, ABS-CBN and TV5
Giant networks ABS-CBN and TV5 announced on Sept. 1 that they have mutually agreed to terminate an investment partnership.
The full statement issued by both networks:
"In disclosures to both the Philippine Stock Exchange and the Securities Exchange Commission today, Sky Vision Corporation
Ang daming nalungkot sa nilabas na mensahe ng ABS-CBN, TV5, tungkol sa plano nilang pagsasanib puwersa kamakailan. Nagpirmahan na nga ng kontrata ang magkabalikang kampo.