Philippines’ ABS-CBN To Buy Stake In Rival TV Network As Former Media Giant Seeks To Revive Business

The ABS-CBN Corp. Broadcasting Centre logo sits on display at the entrance to their compound in … [+] Metro Manila. Veejay Villafranca/Bloomberg ABS-CBN Corp.—controlled by tycoon Oscar Lopez—has agreed to buy a stake in rival television network TV5 as the company, which once dominated the Philippine media industry until the…