MANILA, 2022 Sep 1 — Listed media conglomerate ABS-CBN Corp. will no longer buy a third of TV5 Network Inc. with the termination of the two companies’ investment agreement, according to its disclosure to the local stock exchange on Thursday. In a statement, both media companies also announced the termination of the Convertible Note Agreement...
President Duterte said ABS-CBN should settle first their unpaid taxes.
Before the denial of ABS-CBN’s franchise bid, lawmakers at the House of Representatives tackled several issues hounding the network, such as the citizenship of ABS-CBN chairman emeritus Eugenio Lopez III, its issuance of Philippine Depositary Receipts, and its supposed commission of alleged labour and tax violations.
Roque said the President should not be blamed for the network’s shutdown because there is also “documentary evidence” to show that it is a Congressional panel that denied to renew the franchise of ABS-CBN.
Article XVI, Section 11 of the 1987 Constitution requires that ownership and management of mass media shall be limited to citizens of the Philippines, or corporations, cooperatives or associations, wholly-owned and managed by these citizens.
ABS-CBN allegedly violates the categorical 50-year limitation imposed on franchises; foreign ownership of mass media companies; workers' rights; and Philippine tax laws.
MANILA – Malacañang on Tuesday declined to issue any comment on the way the Supreme Court’s (SC) is handling the issue concerning the expired 25-year legislative franchise of broadcast firm ABS-CBN Corp. In a virtual presser aired on state-run PTV-4, Presidential Spokesperson Harry Roque said the Palace would defer to SC’s judgment on the issues hounding...
MANILA – The Communist Party of the Philippines-New People’s Army-National Democratic Front (CPP-NPA-NDF) is using the franchise issue of embattled ABS-CBN as a chance to divide Filipinos who need unity amid fight against the dreaded coronavirus diseases (Covid-19), an official said Sunday. Presidential Communications Operations Office (PCOO) Undersecretary Lorraine Marie Badoy said the ABS-CBN franchise issue...
MANILA – Press freedom in the Philippines is very much alive contrary to claims of some groups that media freedom in the country is under threat following the cease-and-desist order by the National Telecommunications Commission (NTC) against ABS-CBN Tuesday. This, according to Southern Luzon Command chief, Lt. Gen. Antonio Parlade, Jr., in reaction to Amnesty International...
The Cease and Desist Order from National Telecommunications Commission (NTC) covers 42 television stations across the country, including the flagship Channel 2, 10 digital broadcast channels, 18 FM stations, and 5 AM stations.