Kapamilya network’s head Carlo Katigbak reveals truth about their network during hearing.
CARLO KATIGBAK – ABS-CBN President and CEO Carlo Katigbak, during June 1 hearing, speaks about their network’s truth amid allegations.
From tax allegations down to ownership, ABS-CBN is currently facing issues while battling just to have another 25-year legislative franchise after they got expired last May 4. The National Telecommunications Commission (NTC) released last May 5 a cease and desist order which ultimately forced the network to go off air.
Now, during the June 1 hearing, “truth” was heard from the networks President and CEO Carlo Katigbak where he clarified that ABS-CBN Corp. was owned by the Lopezes and they got it back after the country had its democracy in 1986.
He also even explained a law which tells something about the franchise holder to last only for 50 years. But to what’s required is to renew franchise after 25 years and that the franchise renewal must not exceed 50 years. He cited other companies who have been operating for more than 50 years now but were still granted with their renewal.
Another issue is the citizenship of ABS-CBN Chairman Emeritus Eugenio “Gabby” Lopez III, son of Eugenio “Geny” Lopez Jr. who is a Filipino. Moreover, ABS-CBN PDRs or Philippine Depositary Receipts never owned a part of the company.
He insisted that the network was not sold and it was just taken away from the owners during the martial law. But then, what paved way for the Lopezes to have the network again is through Presidential Commission on Good Government, the Supreme Court, and the Office of the President which happened after the People Power Revolution.
He added, “Hindi po binenta ng Lopez family ang ABS-CBN. Basta ginamit nalang ng iba ang mga facilities ng ABS-CBN na walang binayaran. Kaya hindi po totoo ang paratang na bigla nalang napasakamay muli sa mga Lopez ang ABS-CBN dahil sila naman ang tunay na may-ari nito.”
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