Congrats on the joint venture of ABS-CBN TV5 ! For ANC: ABS-CBN TV5 joint venture is not a partnership under corporation law : based on the parties’ media statements: ABS-CBN simply purchased stocks and has agreements on specific shows

Congrats on the ABS-CBN TV joint venture ! For ANC: ABS-CBN TV5 joint venture is not a partnership under corporation law : Based on the parties’ media statements, ABS-CBN simply purchased stocks and has agreements on specific shows. MediaQuest purchased SkyCable shares. The parties are using the business term joint venture, or a project growing out of contracts. (ANC has been using the headline “ABS-CBN TV5 reach landmark partnership deal” since mid-morning and up to now, 1:27pm)