with the AKTV Run held outside SM Mall of Asia in Bay City, Pasay. On the same day, IBC launched a new logo and slogan "Where the Action Is" to reflect the change. On April 11, 2013, MediaQuest Holdings chairman Manny Pangilinan announced that AKTV will no longer renew the blocktime agreement in May due to high costs and poor ratings, and there have been doubts about the future of the network. In 2012, pursuant to AO No. 26, IBC handed over its archives to Film Development Council of the Philippines (FDCP) for restoration. IBC signed a memorandum of agreement with the Asian Television Content Corporation under Engr. Reynaldo Sanchez as the major blocktimer of the station. The TATC @ IBC primetime block with the newest programs premiered on June 2, 2014. However, on August 31, 2014, programs under the ATC @ IBC 13 block suddenly no longer aired on the network, possibly due to poor ratings and a lack of advertisers' support. PCOO Secretary Herminio Coloma, Jr. said in a Senate budget hearing for the PCOO last September 3, 2014, that the network would be fully privatized before President Aquino stepped down from office in 2016 and kept PTV-4 as the sole government TV network. The privatization process would be managed by the Governance Commission for Government-Owned or -Controlled Corporations through the Development Bank of the Philippines. Business tycoon Manny V. Pangilinan was one of the possible bidders for the privatization in which TV5 (a media company under PLDT's MediaQuest Holdings through ABC Development Corporation). Despite the expiration of the blocktime agreement in 2013 (AKTV), the network is still using IBC's Broadcast City facilities for sports events, including its 2014 FIBA Basketball World Cup coverage. However, MediaQuest also could not join the privatization bid due to ownership rules and regulations, given MediaQuest owns TV5 and AksyonTV (now One Sports). On June 2, 2015, the Philippine Crusader for Justice (PCJ), led by Joe Villanueva, filed a petition to the Supreme Court of the Philippines to nullify the joint venture agreement between IBC and Primestate/R-II Builders for the development of 3.5 hectares of Broadcast City, after the Office of the Ombudsman found the contract to be disadvantageous to the government. The Ombudsman filed a graft case in 2013 against former IBC executives and Primestate. In January 2016, President Aquino, through the Governance Commission for Government-owned and -controlled corporation (GCG) approved the