MediaQuest Holdings Chairman Manny V. Pangilinan has ruled out participating in ABS-CBN Corporation’s ongoing ₱6-billion capital raising effort for now, confirming that no investment discussions are currently taking place between the two media entities.
Speaking on his group’s involvement, Pangilinan clarified that while a deal could be explored down the road, their current interaction remains strictly focused on content distribution.
“Mahirap mag salita. The answer for now is no,” Pangilinan in an interview said when asked whether his group was among the investors taking part in ABS-CBN’s fundraising.
When asked if an investment might be considered at a later time, he maintained:
“Pwedeng pag-usapan, ‘di ba? Pero as of now wala. There are no discussions.”
Pangilinan emphasized that MediaQuest’s partnership with ABS-CBN is presently restricted to existing commercial agreements.
“We are not thinking of anything with ABS-CBN except the arrangements where they show some of their content, blocktime or co-prod situation,” he said.
Under these existing content arrangements, several ABS-CBN programs—such as Coco Martin’s Sigabo, Someone Someday, Blockbusters sa Umaga, Kapamilya Deal or No Deal, and Everybody Sing—are broadcast on TV5. In return, TV5 productions including Face To Face with Ate Koring, My Bespren Emman, and A Secret in Prague air across ABS-CBN’s platforms.
The clarification comes as ABS-CBN works to raise ₱6 billion in fresh equity to reinforce its balance sheet and rebuild its operations following sustained financial challenges after losing its free-TV broadcast franchise in 2020.
The fundraising effort has secured commitments from key investors:
- The Lopez Family: Three branches of the family, acting through Crème Investment Corporation, Mantes Corporation, and Presta Holdings Company Inc., have committed ₱2.2 billion in personal funds to buy new shares.
- I&C Holdings Corporation: The wholly Philippine-owned private investment holding firm, which specializes in long-term corporate turnarounds, is set to subscribe to ₱3.5 billion worth of shares.
In a related development within the broader holding structure, business tycoon Ramon S. Ang acquired the 25.7 percent stake of former ABS-CBN Chairman Eugenio “Gabby” Lopez III’s family branch in Lopez Inc. through his holding firm, Ilumina Investment Holdings Inc.
Lopez Inc. maintains controlling stakes in several major listed companies, including First Gen Corporation, Rockwell Land Corporation, First Philippine Holdings, and ABS-CBN Corporation.