Jose Mari Chan Speaks About His “Sleeping Stocks” In ABS-CBN Network

Here’s what Jose Mari Chan said about ABS-CBN stocks.

JOSE MARI CHAN – Iconic singer and songwriter Jose Mari Chan speaks about his sleeping stocks in ABS-CBN amid lack of frachise.

The ABS-CBN network officially shut down on July 10, 2020, because 70 lawmakers voted so despite lack of evidence that they have some laws legally violated. After 13 comprehensive and exhaustive congressional hearings, the network has proven their innocence and resolved all issues but still, they did not received the grant to have another franchise to operate.

ABS-CBN Franchise
Photo from Rappler

Amid the pandemic, apart from the millions of hearts got broken, the lack of franchise has caused a massive job loss and people from far flung areas lost the chance to keep themselves updated over current event, most especially were are in a gruelling state because of coronavirus. The absence of ABS-CBN, the network which has the widest reach across the country through their regional channels, has been felt and greatly made an impact to the lives of the many people.

And finally reacting to the distress of this event, iconic singer and songwriter, Jose Mari Chan has finally reacted and admitted that he felt a bit bad about it. He said, “You know, kung ako yung Presidente, I would say, ‘I will not renew your franchise because you owe the government P37-M or P370-M. Unless you pay that penalty, I will not renew your franchise.’ But what they did is, wala lang, ‘We will not renew your franchise.’”

Jose Mari Chan
Photo lifted from ABS-CBN News

He believes that they can slap it on them whatever they are lacking of that may halt their bid but they should not shut it down because the public needs information. The singer is one of the Top 10 stockholders of the corporation. He holds 1,257,130 shares that if multiplied to a share equivalent to Php 16.56, he hold a total of Php 20,818,072.80 approximately.

Speaking about his shares, he believes that it is just hibernating. He is hopeful that the network will rise again just like what happened before. He said as per report from PEP, “I don’t want to say that it’s in a coma, it’s probably just hibernating, waiting for the right moment, because ABS-CBN has undergone several crises in the past.”

According to the website of Lopez Holdings Corporation, other famous personalities who has shares and investments are Carlo Lopez Katigbak, Ma. Socorro “Cory” Vidanes, Laurenti Dyogi, Olivia Lamasan, Noli de Castro, Quezon City Mayor Joy Belmonte, Angel Locsin, Daniel Padilla, Bea Alonzo, Kris Aquino, Aiza “Ice” Seguerra, Vic Sotto, Angelica Panganiban, John Estrada, and Kim Chiu.


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