ABS-CBN Stockholder Jose Mari Chan Message To 70 Lawmakers

Here’s Jose Mari Chan, a stockholder of ABS-CBN, message for those 70 lawmakers.

JOSE MARI CHAN – Music icon Jose Mari Chan has this message to lawmakers who voted to junk the franchise renewal of ABS-CBN.

ABS-CBN, the biggest media company, has been closed down a couple of months ago after many decades of being on air to deliver free entertainment to people. There had been  13 comprehensive and exhaustive congressional hearings before 70 lawmakers rejected their application for a fresh 25-year franchise.

Jose Mari Chan
Photos by Angie de Silva/Rappler

It caused a massive job loss and prompted many Kapamilya stars and staff to transfer to another network such as Johnny Manahan also known as Mr. M, host and singer Billy Crawford, hunk actor Piolo Pascual, Kapamilya Director Bobot Mortiz, and many others.

And now, saddened and disheartened over the lawmakers decision, one of the stockholders of the network, expressed message for them and wished for a change of hearts from them for the better. Jose Mari Chan said in program HaPinay of TeleRadyo, “Meaning, for them to realize that what they did was much more than what President Duterte was asking for.”

It was last May 5 that the network has gone off air after the National Telecommunications Commission (NTC) released a cease and desist order while it was July 10 that the junking of the “Resolution Denying the Franchise Application of ABS-CBN Corporation to Construct, Install, Establish, Operate, and Maintain Radio and Broadcasting Stations in the Philippines” has happened.

Jose Mari Chan

He specifically wished for a change of heart to SAGIP Party-list Representative Rodante Marcoleta and Anakalusugan Party-list Representative Michael “Mike” Defensor. This is because it seems like they were the one who are really angry towards their network.

Being a Kapamilya and a stockholder as well of the network, he expressed his sadness as how the hatred of these people can ultimately destroy lives of many workers by losing their jobs. Out of 100 stockholders of the media company, the music icon is on the 9th spot.

As per the Facebook page of MONEY Abundance, given the example that he holds 1,257,130 shares of ABS-CBN, he has Php 20,818,072.80 on it if multiplied by Php 16.56 per share of the network. The amount per shared is based on February 2020.


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