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Manila Bulletin devider Entertainment devider Celebrities devider MediaQuest airs side on 'It's Showtime' transfer

MediaQuest airs side on 'It's Showtime' transfer

Published Jun 20, 2023 11:40 pm

'It's Showtime' (Images courtesy of Facebook)


MediaQuest Holdings, owner of TV5, has explained that the transfer of "It's Showtime" and the non-renewal of their contract with the network, was a purely "business decision" made by both parties. MediaQuest's top executives Manuel V. Pangilinan and Jane Basas - chairman and CEO, respectively - said it just so happened that the contract of "It's Showtime" is ending on June 30 and ABS-CBN decided not to renew it after they were offered a new 4:30 pm time slot by TV5. ABS-CBN has said they "respectfully declined" the TV5 offer as they have already "built and nurtured" their audience on the noontime slot. As such, they are transferring to GMA's GTV channel. Pangilinan revealed that it was a "tough choice" they had to make and the main consideration was that "It's Showtime" was a blocktimer, whereas they own a stake in the new noontime show of veteran hosts Tito, Vic, and Joey. MVP made the statement during a Media Day welcoming TVJ to TV5. Under their "investment agreement,"  MediaQuest will hold a 51 percent equity in TVJ Productions.
Basas pointed out: "The relationship with 'It's Showtime' is set to expire end of June. It was a blocktime relationship. This time around, we are co-owners, co-investors of TVJ Productions. Mas invested kami kasi produkto na namin ito, di ba? It just really makes sense from a business standpoint to put it in a time slot that is best for it." "We did offer (It's Showtime) an alternative time slot, and in our humble opinion, the new time slot , which is the 4:30 to 5:30 pm time slot , is best for  it because it does have a younger viewership. Their viewers are mostly  young. In the words of MVP, ultimately it's their decision (as blocktimer)," she added. Pangilinan called it "serendipity" that Tito, Vic and Joey were trying to find a new home just as the blocktime contract of "It's Showtime" was ending. "We're not lacking in our assistance to ABS-CBN," he clarified. "We are an inclusive group, we don't discriminate. We feature whoever is deserving to be seen in our platform - whether it's Cignal, free-to-air, UHF, VHF, and even our mobile platforms. We will provide the content providers all the platforms the group possesses, now or in the future. "We will continue to support 'It's Showtime'," Basas stressed. "We carry the Kapamilya Channel and Cignal TV is actually their biggest distributor. Our relationship with ABS-CBN will continue to exist. In fact, our primetime blocks are currently with ABS-CBN and we're very thankful for that partnership."
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