ABS-CBN terminates the acquisition of a 35% stake in TV5 Network.

ABS-CBN, a commercial television network, terminates the acquisition of a 35% stake in TV5 Network, a free-to-air television company, from MediaQuest Holdings, a Philippine-based media conglomerator. The termination follows concern from some legislators at an inquiry last week that TV5 could be violating its franchise if it went ahead with the plan to sell a 35% stake to ABS–CBN.