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(ABS-CBN)
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Of course, some members of Congress do not think logically. They think of what is best for their own interest and they get swayed by public sentiment.


Let's take a quick look at the main issues raised against the network. First, there is the question of Philippine Depositary Receipts - an investment tool resorted to by foreigners.


Taking off from the disclosure of ABS-CBN with the Securities and Exchange Commission, the Lopezes created many corporations in what we lawyers call "layering." This is an obvious attempt to circumvent the Constitutional prohibition on ownership and management of mass media. Yet, one of the corporations created by the Lopezes - ABS-CBN Holdings - is a shell corporation, made to be merely a receptacle and issuer of PDRs.


That corporate veil can be pierced. And now we discover that foreigners now have 132 million shares worth P6.072 billion. This is ownership in any language!


Another issue raised against ABS-CBN is the creation of ABS-CBN Convergence that will show in the network's TV Plus and KDO movies produced by the network.


To make matters worse, the bright boys of ABS-CBN entered into a block time agreement with Amcara Broadcasting over Channel 43. This is where they show movies, teleseryes and concerts despite the fact that the National Telecommunications Commission has released a cease-and-desist order on ABS-CBN!


The Lopezes and ABS-CBN are now facing charges of fraud. It seems they also owned Amcara. If this alleged anomaly is proven, it would show that the Lopezes can go to the extent of creating a dummy corporation to achieve their ends.


This is a criminal act and the House of Representatives must dig deeper!


The allegation was bolstered by the findings of NTC engineers that Amcara broadcast was in fact coming from the ABS-CBN tower on Mother Ignacia Street, where ABS-CBN's main offices are also located.


Despite all these, it is still not sure that Congress would do the logical thing.


Look at all the solicitations coming not only from ABS-CBN talents, but even a bishop, and ordinary viewers. It is just sickening how people come to their defense!


Since the Senate must also approve the 25-year franchise renewal, can we trust our senators to do the right thing? Many of the senators also have interests tied with ABS-CBN's.



Sources: 

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To renew or not, To the point by <a href="https://manilastandard.net/opinion/columns/to-the-point-by-emil-jurado/328018/to-renew-or-not.html" class="news_link" target="_blank" title="Source">Emil Jurado</a>, July 8, 2020, The Manila Standard
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Will our lawmakers be honest and logical and do the right thing?