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ABS-CBN merger with TV5 rouses lawmakers

August 18, 2022 Jester P. Manalastas 311 views

AT least three lawmakers filed separate resolutions calling for a legislative inquiry into the reported merger of TV5 Network Inc. and the ABS-CBN Corp.

Deputy Majority and Quezon Rep. David Suarez and Zamboanga Sibugay Rep. Wilter Palma, who filed House Resolution 281 and 280 respectively, asked the House Committee on Legislative Franchises to look into the alleged foreign ownership of the ABC Development Corp. or the TV Network Inc.

On the other hand, Talino at Galing ng Pinoy Party-list Rep. Jose Teves Jr., author of House Resolution 282, asked the committee to probe the airing of ABS-CBN programs on TV5.

The committee, chaired by Paranaque Rep. Gus Tambunting, started its organizational meeting whose first agenda is the reported purchase agreement between the ABS-CBN and the TV5 based on the schedule posted on the Congress website.

Palma wanted the committee to look into the alleged foreign ownership issues of TV5 as there were reports that MediaQuest, a part of the PLDT Beneficial Trust Fund reportedly owned by Filipino businessman Manny Pangilinan, is foreign owned.

Earlier, Sagip Party-list Rep. Rodante Marcoleta claimed in his privilege speech that the TV5 is owned by an Indonesia national.

“There were published reports alleging that ABC Development Corporation, presently known as TV5 Network, the country’s third major player in the television market, and part of a cross-media conglomerate owned by Mr. Manuel V. Pangilinan’s MediaQuest Holdings Incorporated under the [PLDT] Beneficial Trust Fund, is actually owned by an Indonesian national,” Palma’s resolution read.

“If this allegation that TV5 Network Inc. is owned by an Indonesian national is true, then there is a clear violation of the 1987 Constitution, and on terms and conditions of the franchise granted to TV5 Network Inc., which must be thoroughly looked into in the interest of the public,” it added.

Meanwhile, Suarez and Teves wanted the committee to look into the block time agreements between the two networks.

Given the possible violations committed by these networks, there is a need to determine whether their legislative franchises are being implemented and carried out in accordance with the intent of Congress and whether or not they should be amended, altered, or repealed by Congress in the interest of the public,” Teves’ resolution stated.

Last week , it was confirmed that ABS-CBN purchased a 35 percent stake in TV5, which seeks to provide the latter a bigger presence.