MANILA, Philippines – Lopez-led ABS-CBN Corporation confirmed on Thursday, December 4, that it has received a notice from Manny Pangilinan’s TV5 Network terminating its content supply agreement due to money matters. 

In a disclosure to the Philippine Stock Exchange (PSE), the former broadcasting giant insisted that the dispute over the reported P1-billion delayed payments to the Kapatid channel was pending, and that it had sought more time to meet its obligations. 

ABS-CBN also denied it had “willfully delayed payment,” and asked for understanding given the loss of its lucrative broadcast franchise over five years ago under the Rodrigo Duterte administration. 

After it lost its broadcast franchise, ABS-CBN pivoted to being a content provider to its former competitors, including TV5 and later GMA Network, plus smaller entities such as Manny Villar’s ALLTV and Eddie Villanueva’s Zoe Broadcasting‘s A2Z that had franchises. It also signed content deals with streaming platforms such as Netflix and Viu, and consolidated its domestic and global streaming platform to iWant. 

ABS-CBN renewed its content agreement with TV5 in June 2023. Under the five-year deal, ABS-CBN would continue to supply TV5 with shows for its weekday and weekend primetime slots. 

Among the Kapamilya shows currently on primetime on TV5 are the popular Coco Martin-helmed Batang Quiapo teleserye, and new series Roja and What Lies Beneath. They are also shown on ABS-CBN’s digital platforms such as YouTube.

Most ABS-CBN viewers shifted to YouTube and paid cable TV after the Kapamilya’s broadcast operations shutdown. Majority of the poor who couldn’t afford digital services shifted to GMA’s and TV5’s free TV for entertainment and news. (READ: Fewer viewers, ad options: How ABS-CBN shutdown alters PH media landscape)

As of Thursday, TV5 told Rappler that ABS-CBN shows will still be aired on the Kapatid channel. TV5 is set to issue a statement in response to ABS-CBN’s disclosure. We will update this article once we get the response. 

“ABS-CBN confirms receipt of a notice of termination of its TV Content Supply Agreement with TV5. We deeply regret that this action has been taken at this critical juncture in our recovery, particularly as we continue to navigate the unprecedented challenges arising from our franchise loss,” the publicly listed firm told the PSE.

“Contrary to media reports, the amounts and manner of the claims remain disputed. We acknowledge our obligations to TV5 and are doing everything we can to address these payments. We have sought additional time to resolve this matter and are working urgently within the thirty-day period we have been given. 

“While this timeline is challenging given our current circumstances, we are committed to finding a way to fulfill our obligations — not only to TV5 but to all our partners and stakeholders. We remain open to fair and reasonable solutions that recognize the extraordinary circumstances our company has faced.

“There is no truth to any insinuation that ABS-CBN willfully delayed payment. Such characterizations fail to acknowledge the severe financial constraints imposed on us through circumstances beyond our control.” 

ABS-CBN noted that the loss of its broadcast franchise in May 2020 “significantly reduced its revenues” that it said “was not a matter of choice or mismanagment, but a direct result of regulatory action that stripped away our primary revenue source.”

ABS-CBN recorded a net loss of P5.6 billion in 2021, P2.6 billion in 2022, P12.8 billion in 2023, and P6 billion in 2024. It had a net income of P1.9 billion in 2018 or before the COVID-19 pandemic and the broadcast shutdown in 2020.  

ABS-CBN reported a net loss of P1.6 billion for the first three quarters of 2025, 24% lower than the P2.1 billion net loss in the same period in 2024. Advertising revenue went up from P4.7 billion to P5.4 billion in the first 9 months of 2025, up P694 million or 15% due partly to election-related advertising in the 2025 mid-term polls. 

In February, the Lopezes decided to sell 30,000 square meters of its 44,027-square-meter property in Sgt. Esguerra, Quezon City to Ayala Land Incorporated for P6.2 billion to pay for its outstanding loans. 

“While some revenue streams have since recovered, ABS-CBN continues to operate at a loss as we work to rebuild,” ABS-CBN said in its statement. 

Aside from being a content provider, ABS-CBN shifted its focus to digital operations but the earnings from digital platforms are not enough to make up for the loss in broadcast revenues. 

“Despite these formidable challenges, our transformation into a storytelling company has shown steady performance improvement, demonstrating our resilience and commitment to our stakeholders. While we are still short of realizing a full turnaround, our trajectory is clear and our dedication unwavering,” ABS-CBN said.

In a separate statement to its Kapamilya viewers on Thursday, ABS-CBN said in a social media post that it would find ways to reach them in the event the TV5 partnership is terminated.

– Rappler.com