MANILA, Philippines — “The resolution on Abs-CBN affects all franchises the two previous and current.”
Senator Grace Poe said this Saturday, a day following the Residence of Representatives panel denied Stomach muscles-CBN Corp. a new 25-12 months franchise.
The senator, chair of the Senate committee on general public companies that began hearings on legislative franchises, reported the non-renewal of Abs-CBN franchise “sets a risky precedent for all other franchises.”
“The superior and unforgiving bar to which the media entity was judged has an effect on the legitimacy of all other franchise holders which use Philippine Depositary Receipts, tax strategies, and electronic platforms – all of which were addressed legal ahead of the immediate scenario,” Poe added.
Poe also pointed out that even if Ab muscles-CBN was previously “certified as compliant,” the Dwelling resolution found that the media network however had violations that might pose risk to other franchises.
“When you deny the privilege of broadcast to an entity which regulatory companies have now qualified as compliant, the sport modifications for all the players,” she explained.
“Resolving that a franchise holder has violations beyond the terms and situations of its franchise opens the floodgates for doable violations of all other franchise holders even without having their know-how till they have been explained to so by Congress,” she added.
On Friday, 70 lawmakers voted to approve the specialized functioning group’s report recommending the denial of a legislative franchise to Abs-CBN. Eleven lawmakers voted from the report, two inhibited, and one abstained.
Even just before the House of Associates tackled the media network’s franchise, Poe’s committee commenced conversations on Abdominal muscles-CBN’s franchise renewal.
For the duration of the Senate community products and services committee hearing in February, the Securities and Trade Fee (SEC) and the Bureau of Inner Profits (BIR), as properly as the Countrywide Telecommunications Commission (NTC) cleared Abs-CBN of any violations.
In the same way, SEC and BIR as nicely as other authorities agencies involved have attested to Abdominal muscles-CBN’s compliance to policies and regulations all through the community hearings at the Household of Reps.
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