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TV5 (formerly known as ABC 5) is a major Filipino commercial television network based in Mandaluyong City, Philippines. It is owned and operated by the ABC Development Corporation, solely owned by MediaQuest Holdings, Inc., a wholly owned subsidiary of the beneficial trust fund of the Philippine Long Distance Telephone Company headed by business tycoon Manuel V. Pangilinan. Joaquin “Chino” Roces, owner of the Manila Times was granted of a radio-TV franchise from Congress under Republic Act 2945 on June 19, 1960. He then founded the Associated Broadcasting Corporation with its first studios along Roxas Boulevard, becoming the fourth television network established in the country. ABC operated radio and television services from 1960 until September 21, 1972 when President Ferdinand E. Marcos declared Martial Law. Both ABC and the Manila Times were forcibly shut down as a result. After the People Power Revolution in 1986, Chino Roces made a successful representation with President Corazon Cojuangco-Aquino for the restoration of the network. New stockholders led by broadcast veteran Edward Tan and Chino Roces’s son Edgardo then began the arduous task of resuming broadcasts. The Securities and Exchange Commission granted their application for an increase in capitalization and amendments to ABC’s articles of incorporation and by-laws. They were subsequently granted a permit to operate by the National Telecommunications Commission (NTC).