Abs Cbn Franchise Renewal

ABS-CBN one of the major television stations in the country went off-air on free TV in May 2020 after the House of Representatives rejected its bid for franchise renewal due to various violations including alleged non-payment of right taxes. This will result in the airing of ABS-CBN shows under TV5.

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- The Philippines top broadcaster ABS-CBN on May 5 was ordered off the air over a stalled operating licence renewal drawing fresh charges that authorities were cracking down on press freedom.

. In a privilege speech Monday Marcoleta hinted he may go after the PLDT group which owns TV5 for allegedly merging with ABS-CBN. Photo by MARIA TANAFP via Getty Images. This view shows the ABS-CBN network headquarters in Quezon City in the Metro Manila area on May 5 2020.

Under the deal ABS-CBN will acquire 646 million primary common shares equivalent to 3499 of capital and voting stock in. Shares in ABS-CBN fell 195 on Wednesday following the announcement. He earlier played a leading and vocal role in the rejection of ABS-CBNs franchise renewal by the 18th Congress.

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