Is Dennis Uy interested to buy ABS-CBN amid its franchise issue?
ABS-CBN Franchise Issue – Business tycoon Dennis Uy was asked if he is interested to buy the biggest TV network in the Philippines.
The name of the businessman from Davao surfaced along with the issue of the franchise of the TV network when President Rodrigo Duterte mentioned in one of his public pronouncements one of the options that the media company can resort to.
It is known to many that the Chief Executive has been vocally discussing his grievances against the network. Then, he mentioned that the management could just sell the TV network that has been airing for 65 years now. That was the time that the name of the Davaoeño businessman entered the scenario.
In line with the allegations that he is just waiting to buy the network, Dennis Uy said in a recent report from ABS-CBN that he is not interested in buying it.
The chairman and Chief Executive Officer of Udenna Corporation expressed that they have no intention to buy the media company. “Being in the business of broadcasting is not part of our corporate direction. Mataas ang respeto ko sa nagawa at patuloy na ginagawa ng ABS-CBN,” Uy said in a statement.
The business tycoon also stated that he hopes that ABS-CBN would soon resolve its problem. Based on the report, since President Duterte assumed the highest political position in the country, Dennis Uy has been on a “buying spree”.
In addition to the properties he acquired, his consortium’s bid won as the third major telco player in the Philippines.
Meanwhile, in a previous report, the Supreme Court stated that it will decide on Monday, May 11, regarding the ABS-CBN’s petition against the National Telecommunications Commission’s cease and desist order.
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