'Eat Bulaga!' and TAPE Inc. still had block time agreement until 2024—GMA Network

GMA Network said its program Eat Bulaga!, the country's longest-running noontime variety show, still had a block time agreement with its producer Television and Production Exponent (TAPE) Inc. until 2024—on the heels of the show's main hosts announcing that the show is parting ways with its producer.

"We are saddened by today's unexpected turn of events," GMA said, adding the network has been the home of Eat Bulaga! for many years.

"Together will all the Filipino fans, we pray for a smooth and swift resolution of their issues."

Hosts Tito Sotto, Vic Sotto, and Joey De Leon made the surprise announcement on the show on Wednesday, May 31.

The bombshell came after over a month when rumors of an Eat Bulaga! rebranding—and the trio getting fired—broke out amid financial losses.

Co-owner Romeo Jalosjos Sr., a former representative of Zamboanga, reportedly wants to take control of TAPE Inc. from co-founder Tony Tuviera and "rebrand" the show.

Tito also previously said that though Tuviera is still with TAPE Inc., there have been changes in the organizational structure.

The company also allegedly owed them millions of pesos, according to Tito. Vic said he already received his P30 million after the issue made the headlines.

Entertainment news website PEP.ph, meanwhile, on May 30 reported that Tito, Vic, and Joey have signed a contract with TV5 for a noontime show. Citing a network insider, PEP.ph said it was already a "done deal," following TV5's last noontime show Tropang LOL already airing its final episode.

PhilSTAR L!fe reached out to TAPE Inc. for comment, but has yet to receive a reply.