Actor Derek Ramsay did not renew his contract with ABS-CBN, ABS-CBNNews.com reports, and according to the station's corporate communications head, Bong Osorio, he will be moving to another network.

"Derek Ramsay has decided to transfer to TV5," Osorio is quoted as saying in a statement. "For months, ABS-CBN has exerted efforts to make him stay as a Kapamilya. TV5, however, offered him an amount that was difficult for him to refuse. We thank Derek for the many years he has been with ABS-CBN."

In an interview with PEP.ph on April 2, Derek confirmed that he was no longer renewing his contract with ABS-CBN. He said he had given the station loyalty throughout the six years that he was with them. “I think I performed naman with all the projects that they gave me. But it was a roller coaster; there were ups and downs. It’s really nobody’s fault. But [in] the end, we thought it was time to change. Sadly, this was one of the toughest things I made in my life."

Despite ABS-CBN's announcement that the actor was transferring to TV5, however, Derek said he has yet to make a formal decision. "That’s my other option. But no signing has been made to formalize [it]."

He added that if he did sign with them, it wouldn't be because of money. “Actually, the offer from TV5 is a project that they’re willing to give me. That will probably convince me because it’s designed with my personality, my interest—which [was what I was] always looking [for in] Channel 2."

"They were mentioning the Amazing Race and the Olympics," Derek added. “You know, I think, in my six years with ABS-CBN, everyone knows how much of a sports fanatic I am. I’m not a 21-year-old anymore. These are just things that I’ve been wanting to do.”

(Photo courtesy of PEP.ph)

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