“I read on Bloomberg... their headline: ABS-CBN raising about P6 billion. That’s good. Good for them,” Pangilinan, the chair and CEO of PLDTInc., said on the sidelines of the telco giant’s financial briefing on Thursday.
His comments come as ABS-CBN raises fresh equity from majority of the family members and a new investor to strengthen its balance sheet and fund its shift toward a more sustainable content-led media business.
Pangilinan also ruled out any investment in ABS-CBN, consistent with the network’s denial earlier this month there were talks for him take over its management or operations.
Pangilinan said on Thursday discussions involving ABS-CBN are focused on content, blocktime or co-production arrangements rather than an investment.
“We are not thinking of anything with ABS-CBN except the arrangements where they show some of their content, blocktime or co-prod situation,” he said.
—Edited by Miguel R. Camus
