ABS-CBN shows to air on Zoe TV
ABS-CBN announced Tuesday its broadcast deal with Zoe Broadcasting Network, a free-to-air channel owned by the family of religious leader and Congressman Eddie Villanueva, according to a report by CNN Philippines.
Zoe TV was recently included on the lineup of channels offered by Lopez-owned SkyCable, as well as by the MVP Group's Cignal service. With the partnership, the channel has been renamed as A2Z. It may be viewed using TV sets in Metro Manila and nearby provinces.
"ABS-CBN and Zoe are committed to work together to provide entertainment, public service programs, and educational content to the public," the Lopez-owned network said in a disclosure on Tuesday.
ABS-CBN shares saw a surprise lift this week – its first recovery in months since its franchise bid was denied by Congress – amid rumors of a deal that will bring back its shows on free TV.
ABS-CBN Corporation as well as ABS-CBN Holdings saw stock prices jump by 50 percent on Monday, riding on reports that some programs of the Lopez-owned network will find their way back to TV broadcasts five months after the network's shutdown.
The Kapamilya shares spiked to P10.58 apiece after Monday trading from a P7.06 rate last Friday, its best showing since July 10 – the last trading day before the House of Representatives denied the media giant a fresh franchise. The spike was partly tempered by the end of Tuesday trading, although still better than last week's average to close at P9 apiece.
Zoe TV was recently included on the lineup of channels offered by Lopez-owned SkyCable, as well as by the MVP Group's Cignal service.
ABS-CBN has been in tumult since it stopped its TV and radio broadcasts on May 5 upon the order of the National Telecommunications Commission, which came a day after its 25-year franchise expired.
The country's biggest media entity resorted to layoffs for senior officials and thousands of workers. Long-time chairman emeritus Eugenio "Gabby" Lopez III also resigned from the ABS-CBN board of directors and from the family's other businesses, citing personal reasons.
ABS-CBN shares hit a peak of P23.50 each and a low of P6.77 so far this year. The stock price was above P60 five years ago, well before President Rodrigo Duterte unleashed public rants against the network.
Currently, ABS-CBN airs its programs on digital, cable and satellite TV and via online livestreams like YouTube and Facebook to sustain content and allow audience to view their shows.
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