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Media & Entertainment

Philippine TV network scraps deal with rival amid political heat

Shuttered by Duterte, ABS-CBN struggles to make a comeback

ABS-CBN said on Sept. 1 it has "mutually agreed" to terminate an agreement that would have enabled it to air more content on TV5's free-to-air channel.   © Reuters

MANILA -- An investment deal that would have allowed Philippine TV network ABS-CBN to make a comeback after it was shut down by the government two years ago has collapsed amid fierce scrutiny from politicians.

ABS-CBN on Aug. 10 had agreed to buy a 35% stake in smaller rival TV5 for 2.16 billion pesos ($38.3 million) to revive its business. The deal's termination less than a month later highlights the growing political pressure faced by media companies in the Philippines.

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