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Showing posts with the label ABS-CBN shares

ABS at 15/share has no one to blame but itself; should restructure to create value

Yes, the non-renewal of the ABS congressional franchise to operate a free-to-air broadcast is a clear attack on the on press freedom and on democracy itself. When no less than the President of the Republic whose policy has been frequently criticized by the network announced that he will not move for the renewal of the network’s congressional franchise, it is undoubtedly a curtailment of the freedom of expression, of the free speech and of the free press. It maybe even evil to suggest or impress that the controlling interest, the Lopezes, should sell for the network’s congressional franchise to be renewed. While it is an attack on the constitutionally guaranteed freedoms, the government more particularly the Congress has done nothing illegal. It has been clearly provided for by the Constitution that the Congress has the sole prerogative to grant or deny any congressional franchise. What has happened is the weaponization of a political tool to attack the freedom of the pr...