Here’s an update about ABS-CBN franchise and their renewal case.
ABS-CBN FRANCHISE – Kapamilya network makes an appeal to Supreme Court to halt their shut down immediately due to their huge losses everyday.
Through the cease and desist order released by the National Telecommunications Commission (NTC), the biggest television company in Philippines was forced to completely went off air as their 25-year legislative franchise has expired.
However, eight days later after it went off air, House Bill No. 6732 or “An Act Granting the ABS-CBN Corporation A Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations in the Philippines, and For Other Purposes” has been filed. This is through the efforts of Speaker Alan Peter Cayetano and several other lawmakers.
With the network’s millions of losses everyday since it shut down, ABS-CBN is now urging the Supreme Court to hasten their movement regarding their plea to bring them back on air broadcasting. Accordingly, their everyday losses amounts between Php 30 to Php 35 million in advertising revenues.
“If this severe financial hemorrhage is not stopped, ABS-CBN may be constrained to eventually let go of workers, reduce salaries and benefits, and substantially cut down on costs and expenses,” said the network in their motion.
They also cited their 11,000 employees to be protected as the moment the network closed down. Their employees from various subsidiaries and affiliates comprise their talents, content creators, security guards, canteen helpers, drivers, utility personnel, and among others.
It furthered as per ABS-CBN report, “In the meantime, ABS-CBN, its employees, various stakeholders, and the general public will continue to suffer grave and irreparable injury as a result of the Cease and Desist Order issued by the NTC.”
READ ALSO:
- ABS-CBN: Gadon Accuses Cayetano Of Violating Constitution
- Ex-ABS-CBN Cameraman to Vice Ganda: “Ayusin niyo na yung pakikitungo niyo”
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