TV5 recently released a statement saying that ABS-CBN and TV5 have decided to postpone their closure preparations in order to address concerns brought up by the NTC and certain legislators.
The statement claims that the break would allow both media groups time to respond to the problems and make any necessary revisions to the agreements.
The statement read, “Both ABS-CBN and TV5 think that a deal between the two media giants will have a positive influence on Philippine media, and on free-to-air television—which remains the most accessible and comprehensive source of entertainment and public service for Filipinos.
Recently, ABS-CBN and TV5 announced that they had come to an agreement under which ABS-CBN will pay PHP 2.16 billion for shares in TV5.