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Abc5: 15 Years

It Been 15 Years Since Abc5 Reopen. They Have Changing Of Ownership But They Remain Ay "small Network". What Is Your Suggestion To Improved There Network


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    TonyBoy’s SOS
    Victor C. Agustin/February 9, 2007

    AFTER bleeding a reported average of P40 million a month, even the fabulously wealthy Antonio “TonyBoy” Cojuangco Jr. is feeling the pain of running a television station.

    Cojuangco has been forced to seek the financial intermediation of his friend, Philweb chair and former Marcos trade secretary Roberto Ongpin, to find deeper pockets for his struggling ABC-5, this we have confirmed.

    Now, if the grapevine is to be further believed, Ongpin had advised Cojuangco about the difficulty of packaging a multi-billion loan without Cojuangco agreeing to relinquish partial or even full equity control of the TV network.

    The Cojuangco camp has reportedly not returned to the negotiating table after the initial round of discussions with the Philweb counterparts, although another account claims that TonyBoy is still awaiting some numbers-crunching to be done by Philweb before resuming the discussions.

    What is lending an air of mystery and even of intrigue about the negotiations is Cojuangco’s going through Ongpin, given that PLDT is a 27-percent shareholder of Philweb, not to mention the checkered history between Cojuangco and PLDT chair Manuel V. Pangilinan within TonyBoy’s former telecom playground.

    Few details could be pried out of the negotiations as the key Philweb officers, like president Dennis Valdes and vice chair Eric Recto, quake at the mere presence of Ongpin, despite of his being their uncle.

    The ABC 5 end of the negotiations, on the other hand, are said to be led by Cojuangco adviser Mario Locsin and Roberto Barreiro, who unexpectedly left for the United States after meeting with the Philweb counterparts.

    Valdes was also in San Francisco last week, but swears by his mother-in-law’s name that he did not even know that Barreiro was somewhere in the Bay Area at the same time as he was.

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