Under the partnership deal, the equity of the MediaQuest group — which is owned and controlled by the PLDT Beneficial Trust Fund — in TV5 will be reduced to 64.79% of the voting and outstanding capital stock, allowing it to retain control of the television network.
For his part, Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said: “TV5 will finally get the popular content it has been searching for since MediaQuest took over in 2010.”Mercantile Securities Corp. Analyst Jeff Radley C. See said that investors “should stay cautious” given the “political” factors that could affect the partnership.
He pointed out that the deal is not a franchise issue. “This involves no transfer of controlling stakes requiring congressional approval.” “However, given the size of the transaction and the entities involved, they may opt to undertake voluntary review with the PCC. This is not compulsory, as the transaction does not meet the current P50-billion threshold for compulsory review,” he added.
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