Prime Media Holdings Inc. signed a Joint Venture Agreement with ABS-CBN Corporation. In a disclosure filed with the PSE, the agreement is in line with Prime Media's strategic plan to venture into media and entertainment by securing partnerships for content development, production, and distribution to expand its business. ABS-CBN Corporation is a media organization known for creating and producing programs for different platforms through partnerships with local broadcasters.

It has a streaming service, 3rd party platforms, domestic and international theater chains, and co-production and syndication agreements with global streaming platforms, and international studios. Prime Media's joint venture with ABS-CBN formalizes the agreement to develop, produce, and finance content, programs, and shows for distribution to local and international broadcast networks, channels, and platforms. This will expand Prime Media's business segments and provide streams of revenue such as equity investment and share in future projects.