MANILA: Philippine broadcaster ABS-CBN Corp. said on Thursday it has terminated a deal to acquire a minority stake in local operator TV5 Network Inc, weeks after some lawmakers questioned the legality of the plan.
ABS-CBN, which has been broadcasting content mostly online since losing its rights to operate radio and television frequencies in 2020, gave no reason for the scrapping of the deal, which it said was a mutual decision.
The termination follows concern from some legislators at an…
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