MVP on TVJ joint venture: It’s our duty to provide them a home
(FROM LEFT) Tito Sotto, Vic Sotto, Joey de Leon
We did not fall short in helping ABS-CBN … We have not forsaken [them],” declared Manny V. Pangilinan (MVP) on Tuesday, after his company, MediaQuest Holdings, signed an “investment agreement” with TVJ Productions, which is owned by brothers Tito and Vic Sotto, and Joey de Leon, or collectively known as “TVJ.”
Pangilinan was reacting to a statement, released by ABS-CBN on the same day, announcing that starting July 1, its noontime variety program “It’s Showtime” would no longer air on TV5.
Instead, a show coproduced by MediaQuest and TVJ Productions will take over the time slot.
ABS-CBN also said it “respectfully declined” the offer by TV5 to air on the 4:30 p.m. time slot. “For 14 years, ‘It’s Showtime’ has brought joy and entertainment to our Madlang People here and abroad. We value the meaningful relationship we have built and nurtured with our audience in the noontime slot,” the statement said.
The Kapamilya network then expressed appreciation to Pangilinan, MediaQuest chair, for his support and “for bringing ‘It’s Showtime’ to a wider audience through our content partnership.” It also stated that the program “has found another home” on free TV via GMA Network’s GTV Channel, as well as on A2Z.
“We are thankful for the loyal support our audiences have provided for ‘It’s Showtime’ and hope they continue to find joy and entertainment on the show as it seeks to find more ways to reach them,” said the ABS-CBN statement.
‘Serendipitous’
What was not stated in the statement was that all block-time agreements between ABS-CBN and TV5 are actually set to expire on June 30 and that the two media companies are still in “an active discussion for a renewal.”
Jane Basas, MediaQuest Holdings president and CEO
According to MediaQuest president and CEO Jane Basas, “We are negotiating with them because we value our relationship with them so much. It just so happened that an opportunity like this with TVJ Productions came about. None of us planned for this to happen. As MVP said, this might be serendipitous. It’s meant to be. We have not finalized the terms of the extension [of the block-time deal with ABS-CBN] yet when TVJ came to us.”
MediaQuest and TVJ signed a joint-venture agreement on June 6.
Basas then explained what she said was a “big difference” between the deal they made with ABS-CBN and their agreement with TVJ. “While the first is a block-time deal, the other is a joint venture, where both parties are ‘invested’ in the company. This is because we both invested money in it. We will produce a show, and so if it fails, we both fail but if it succeeds, then we all earn from it,” she began.
‘Tough choice’
“The relationship we’re talking about here doesn’t just end in the creation of one noontime show. When you set up a company, that’s a growing concern. You will dream of creating other things. This investment agreement has been finalized and formally signed only this morning,” Basas said.
Pangilinan, on the other hand, said MediaQuest had to “make a tough choice” between “It’s Showtime” and this particular production item with TVJ Productions. “It was purely a business decision that we arrived at,” he added.
Manny Pangilinan, MediaQuest chair
“We still have arrangements with ABS-CBN in terms of their content. Again, our duty to them was to provide them a platform. We are an inclusive group. We don’t pick those we will help. We go with those who are deserving of our platforms. We will continue to provide our content providers all the platforms we possess now, and in the future,” Pangilinan pointed out.
With the joint venture, Pangilinan said TVJ are not “mere talents anymore, but are part owners.”
“This is an important point because the content will not come from us. We cannot fire them because they’re not just talents. They are coproducers of the business. They are a big part of the creative process. They should be acknowledged and treated as such.”
‘Service to the nation’
Inquirer Entertainment earlier reported that aside from the yet-untitled noontime show, TVJ Productions is expected to come up with three or more entertainment programs that will be aired on TV5 or on other MediaQuest platforms in the coming months.
“We don’t want to get involved with the polemics of what happened before—that’s not our job—but we felt obligated … It’s part of our duty that if they’re looking for a home, we provide them a home, and for such an iconic entertainment phenomenon, it deserves a home. It’s as simple as that,” Pangilinan declared.
For Basas, providing a platform for TVJ “is a service to the nation. This is because millions of Filipinos are awaiting their return to television. In the same manner that we opened our home to ABS-CBN in the past. That’s what we’re doing to TVJ today. How can you say no to a partnership with TVJ?”
