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ABS-CBN to no longer buy a third of TV5; Cignal s investment in Sky Cable cancelled cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
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
ABS-CBN Corp. and TV5 "mutually" agreed to terminate their investment agreement amid a political firestorm raised by lawmakers that had lobbied for the shutdown of the Lopez-led network.