Abscbnfranchise, Abs-Cbn, Abs-Cbn Franchise Renewal, Abs-Cbn Shutdown, Anc Top, Philippine Stock Exchange, Abs-Cbn Says 'All Conditions, Qualifications' Present For Franchise Renewal | Abs-Cbn News

Abscbnfranchise, Abs-Cbn

ABS-CBN says 'all conditions, qualifications' present for franchise renewal

5/15/2020 7:12:00 AM

ABS-CBN says 'all conditions, qualifications' present for franchise renewal ABSCBNfranchise

The country's largest media and entertainment company said it "has not committed any violation" of its franchise that would merit its non-renewal or the suspension of its broadcast operations.On Wednesday, the House of Representatives passed on second reading a bill that would grant ABS-CBN a temporary franchise until Oct. 31. This will give lawmakers time to deliberate on pending bills for a fresh 25-year license.

'Kimi no Na wa' is coming to Netflix PH this July 10 Opposition lawmakers say ready to question Anti-Terror Law before Supreme Court ‘The demise of democracy’: Filipinos denounce signing of anti-terror law

ABS-CBN signed off on May 5, a day after after its franchise expired, on orders from the National Telecommunications Commission. The NTC later apologized to the House for failing to notify lawmakers of the shutdown order.The MNSE or Media, Networks, and Studio Entertainments (MNSE) operations tallied revenues of P23.3 billion at the end of September 2019, of which, P15.9 billion or approximately 68 percent was from free-to-air advertising, ABS-CBN said.

Free-to-air advertising accounted for half of consolidated revenue fo the same period."Even as the impact of the COVID-19 pandemic on the Philippine and global economy is yet to be fully realized, the Order will put additional financial burden on the company," it said.

ABS-CBN is "exploring alternative means to reach its audience and substitute sources of revenues," which includes expanding its digital footprint, according to the disclosure.The network's flagship newscast, TV Patrol, started airing on YouTube and Facebook, gaining millions of views.

The company will implement cost control measures reduce overhead expenses and rationalize capital expenditures. It is also formulating measures to protect the welfare and interest of its employees, according to the disclosure.News.abs-cbn.com is the official news website of ABS-CBN Corp.

Below is the full text of ABS-CBN Corp's disclosure to the Philippine Stock Exchange on May 15, 2020:Under the Order, the Company was directed to immediately cease and desist from operating its radio and television stations in Metro Manila and other regional stations (Channel 2, Sports and

Action, DZMM, and MOR). On the same day, the Company advised its audience of the development and thereafter, signed off-air its television and radio stations in compliance withthe Order of the NTC.The Order will significantly impact the Company’s Media, Networks, and Studio Entertainments (MNSE) operations. For the period ended September 30, 2019, the revenues of this segment amounted to Php23.3B, of which, Php15.9B or approximately 68% of MSNE revenues, was free to-air advertising.

WATCH: GMA Affordabox jingle's official lyric and dance video PH coronavirus cases breach 40,000 with record 1,531 new patients ‘Pakitang-tao lang’: Jeepney operators pinuna ang kahandaan ng LTFRB sa balik-pasada

On a consolidated basis, free-to-air advertising was approximately 50% of the Company’s consolidated revenue for the period ended September 30, 2019. The actual impact on MNSE operations is difficult to estimate at this point since it will depend, among other things, on the duration of the time its television and radio stations are off-air, and its ability to generate alternative sources of revenues to make up for the shortfall.

Even as the impact of the CoVID19 pandemic on the Philippine and global economy is yet to be fully realized, the Order will put additional financial burden on the Company. As developments on these are still quickly evolving and changing from day-to-day, the Company finds that the transforming scenarios make assumptions, assessments and projections challenging and may not necessarily

be valid or accurate for future scrutiny. Nonetheless, the Company has already undertaken and will continue to undertake measures to mitigate this impact and effect. Thus:A. The Company continues to operate the following:1. Media, Networks, and Studio Entertainment:

Content Creation – entertainment, news, sports, movie, music, channels, other content.Content Distribution –The Filipino Channel (TFC), ABS CBN News Channel (ANC), Teleradyo, Cinema One, Metro Channel, Myx, Cinemo, Jeepney TV, and Yey2. Cable, Satellite, and Broadband – Sky Cable, Sky Broadband, Sky Direct, and Sky on Demand

3. Digital and Interactive Media –iWant, abscbn.com, YouTube, Facebook, and other digital and other social media platforms 4. Consumer Products and Experiences – merchandise and promotional licensing, andphysical experience businessB. The Company is exploring alternative means to reach its audience and substitute sources of revenues, such as but not limited to, expanding its digital platforms and developing new products.

C. The Company will continue to implement cost control measures, reducing general administrative expenses (GAEX) or overhead and rationalizing capital expenditures.D. The Company is formulating measures to protect the welfare and interest of its employees.

'Dear Duterte, may paki ka ba sa amin?': Celebrities, artists react to anti-terror law BREAKING: Duterte signs anti-terror bill into law Duterte tells military: No other president looked at you the way I did

As of September 30, 2019, the Company’s long-term debts amounted to Php21.336B. In light of the Order, the creditor banks have been apprised and are aware of the Company’s situation.During these challenging and unprecedented times, the Company is committed to honor all existing obligations for goods delivered and services rendered by its third party suppliers.

Currently, we expect to pay all our bank debts in accordance with the existing payment schedule.The Company intends to pursue such courses of action and shall exhaust all legal remedies available to it in order to resume its broadcasting operations. On May 7, 2020, the Company filed

with the Supreme Court a Petition for Certiorari and Prohibition (the “Petition”), with urgent application of the issuance of a Temporary Restraining Order and/or a Writ of Preliminary Injunction (G.R Case No. 352119). In the Petition, the Company sought relief from the Supreme Court, as follows: (i) issuance of a Temporary Restraining Order, (ii) the issuance of a Writ of Preliminary Injunction after proceedings held and while the Petition is pending; and (iii) after

further proceedings, the annulment and setting aside of the Order and declaration of permanent injunction, against the implementation of the Order. The following basic arguments were put forth and extensively discussed in the Petition in support of its prayer:

1. Direct resort to the Supreme Court is necessary and justified given the urgency and transcendental importance of the subject matter, and the grave and irreparable repercussions on public interest brought about by the issuance of the Order;2. There is no plain, speedy and adequate remedy available to ABS-CBN other than the Petition;

3. Congress has the plenary power to grant and renew legislative franchises. Thus, instead of issuing the Order, the NTC should have just deferred to Congress;4. The issuance of the Order deviated from past practice and violated the Company's right to equal protection of the law;

5. The Order likewise violates the Company's right to due process, because it was issued without due notice and hearing; violates the right of the public to information and curtail freedom of speech as well as cause serious and irreparable damage on ABS-CBN and 

thousands of its employees. Thus, strong public interest and equity demand that the Company be allowed to continue its operations.Even as this Petition is pending, the Company is actively pursuing the renewal of its franchise from Congress and is ready to participate in any hearings or proceedings that may be scheduled at 

any time.In the current (or 18th) Congress, there are eleven bills, seeking the renewal of ABS-CBN’s franchise, which are currently pending with the House Committee on Legislative Franchises, as well as three (3) Resolutions in relation to the renewal or extension of ABS-CBN’s franchise.

As of May 11, 2020, the following developments transpired in the House of Representatives:a. included in its Order of Business on said date the first reading of House Bill No. 6694, entitled: An Act granting the ABS-CBN Corporation (formerly ABS-CBN Broadcasting Corporation) a franchise to construct, install, operate and maintain television and radio broadcasting stations in the Philippines, and for other purposes.

b. issued an Order, dated May 11, 2020, requiring the NTC and its Commissioners to explain why they should not be cited for contempt or proceeded against for issuing the Order.c. three (3) Congressmen filed a resolution seeking an investigation on the alleged violations of ABS-CBN Corporation of its legislative franchise.Then, on May 13, 2020, the House of Representatives Committee of the Whole approved on second reading House Bill No. 6732 (HB 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”, which bill grants ABS-CBN Corporation a franchise

valid until October 31, 2020.In the Senate, two (2) Bills seeking the renewal of ABS-CBN’s franchise, as well as a bill seeking to extended the term of the franchise, have also been introduced before and pending with theSenate Committee on Rules. Upon approval of HB6732 on 

third reading, it is expected that the bill will be transmitted to the Senate for its concurrence.The Company is confident that it is has not committed any violation of the terms of its franchise, permits and licenses or any applicable law or regulations as to merit the non-renewal of its franchise or suspension of its broadcast operations as a consequence.

Thus, the Company believes that while a franchise is a privilege which is the sole prerogative of Congress to grant, it possesses all the conditions and qualifications to have its franchise renewed. Read more: ABS-CBN News Channel »

And you think we didn’t see the fine print of this bill and its hideous nature. Well, good luck to this one. YesToABSCBNShutdown And you think we didn’t see the fine print of this bill and its hideous nature. Well, good luck to this one. YesToABSCBNShutdown

House poised to grant ABS-CBN provisional franchise until October 2020The House of Representatives is now pushing to grant ABS-CBN a provisional franchise valid until October 31, 2020. Angelica Panganiban reminds the public the country grapples with a pandemic, and ABS-CBN is not the enemy. Stories: Hahaha... Pailalim is real. Ok na unta, may dugtong pagid 🙄 Du30 have a go signal, that is why.

Bayan warns provisional franchise may hold ABS-CBN in hostageMANILA, Philippines — The possible approval of a bill granting a provisional franchise to ABS-CBN , which free television and radio broadcasts were shut down after its legislative franchise expired GabrielLaluINQ For a simple reason na AYAW ni Cayetano na under his speakership na ma-APPROVE ang franchise ng ABS-CBN, with that, NASUNOD pa din niya ang gusto ng Pangulo. And by October, New Speaker na, so iwas pusoy ika nga. Tama ba? GabrielLaluINQ Ka OBOB naman. Di talaga makuntento. Kasalanan yan ng Legal Council ng ABS-CBN, they know the law and have 6 years to fix it and put it in SC but they act dumb to use the public ppl again. Di inayos ng Congress pero di naman nagreklamo. Masyadong Umasa kay Mar Roxas kasi. 🤦🏼‍♂️ GabrielLaluINQ Eh di magantay kayo sa hearing nyo

Palace: Unlikely for Duterte to reject temporary franchise for ABS-CBNduda ako..... ung kinilos ni calida? gagalaw ba un ng ganun kung walang utos? Sana buhay pa... ang press freedom 😂😂😂 Bookmark this. Baka bawiin.

'Doc Knows Best': ABS-CBN to launch medical consultation program on YouTube

House Committee of the Whole OKs bill on ABS-CBN provisional franchise ’til October 2020The House of Representatives Committee of the Whole on Wednesday approved the bill granting media giant ABS-CBN a provisional franchise to operate until October 2020. Tapos babawiin pag di na convenient para sa kanila

Sign the petition: Join the call urging gov’t to put ABS-CBN back on airTo persuade government agencies to act on the matter, the petition appeals to the NTC, Supreme Court, and the House of Representatives.