The country’s newest broadcast player, TV 5, took another bold step to make itself a serious network power when it offered a bid of more than P900 million for the Philippine Basketball Association broadcast rights for a period of five years.
TV 5, headed by telecomunications mogul Manny V. Panglinan whose company also owns two teams in the PBA, was the only bidder after ABS-CBN withdrew from the competition, a move that stunned Commissioner Chito Salud. [ FULL STORY ]
