ABS-CBN has pushed back against claims that it deliberately delayed payments to TV5, saying there is “no truth” to insinuations of willful delay as the company confirmed it has received a notice of termination for their TV Content Supply Agreement.
In a statement released Thursday, ABS-CBN said it acknowledges its financial obligations to TV5 but noted that “the amounts and manner of the claims remain disputed.” The company added that it has been requesting additional time to resolve the matter and is working “urgently” within the 30-day period provided.
ABS-CBN emphasized that accusations of intentional delay fail to consider the “severe financial constraints” imposed on it following its franchise denial in 2020. After the COVID-19 lockdowns began, ABS-CBN was ordered by the NTC to stop free-to-air TV and radio broadcasts. Months later, the House of Representatives rejected its franchise renewal, cutting off its main revenue source and forcing the company into its first losses since the Martial Law era.
ABS-CBN said its transformation into a storytelling and content company has shown steady improvements, though it continues to operate at a loss while rebuilding. Still, the network said its commitment to audiences and stakeholders remains strong.
Should the partnership with TV5 be terminated, ABS-CBN said it will continue finding ways to reach viewers — just as it did following the franchise loss. “We will not abandon our Kapamilya and will find ways to continue serving you,” the company stressed.
ABS-CBN reiterated its willingness to find “fair and reasonable solutions” that reflect collaboration and mutual understanding, both for its partners and the millions of Filipinos who rely on its content.
The company ended its statement by thanking its employees, talents, advertisers, and audiences for their continued support and assured that further updates will be released as developments unfold.