ABS-CBN CORP. on Monday denied a report that its management is being turned over to Manuel V. Pangilinan (MVP)-led MediaQuest Holdings, Inc., saying there are no discussions on such an arrangement. There are no discussions with Mr. Ramon S. Ang or Mr. Pangilinan on turning over the management of ABS-CBN to MediaQuest or TV5,” the listed media company said in a Philippine Stock Exchange disclosure. ABS-CBN was responding to a report claiming that Mr. Pangilinan, chairman of MediaQuest, and Ramon S. Ang, chairman and chief executive officer of San Miguel Corp. (SMC), were exploring partnerships involving the company. On Monday, ABS-CBN shares rose 25 centavos, or 7.27%, to P3.69 each. TV5 Network is part of MediaQuest Holdings, Inc. Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund, has a majority stake in BusinessWorld through the Philippine Star Group.