[ad_1]
MANILA – At least 13 senators on Monday presented a bill that will give ABS-CBN Corp a “provisional franchise”, while Congress is still addressing the media giant’s offer for a new 25-year license to operate.
The move seeking to allow the Philippines’ largest media network to resume streaming operations is “an attempt to save all the thousands of direct and indirect jobs that rely on ABS-CBN at a time of great concern and economic downturn,” Senators said in The Explanatory Note to the Bill.
According to Bill No. 1521 of the Senate, the company may operate until June 30, 2022 “to give Congress more time to deliberate on the ABS-CBN franchise.”
13 senators present a bill granting the ABS-CBN “provisional franchise” to operate while Congress is still addressing its renewal offer for a new 25-year term pic.twitter.com/kwNlFlPCa5
– Kat Domingo (@_katrinadomingo) May 11, 2020
“Failure to renew the ABS-CBN franchise will result in the loss of thousands of jobs as the network has more than 11,017 employees, including its artists, independent contractors, vendors, and content creators who span information and ABS-CBN Entertainment Group of Companies, “says the bill.
“The cessation of its operations [also] it jeopardizes the Philippine advertising industry which has historically invested up to 75 percent of its P151 billion business in television, “he said.
The closure of the country’s largest network will also affect tax collection and investor confidence, senators said, noting that ABS-CBN has “contributed up to P70.5 billion” between 2003 and 2020.
“Without the important source of income provided by the television network, it would be difficult for the government to find funds for basic services such as education, health care and security,” he said.
“The non-renewal of the ABS-CBN franchise can affect investor confidence and hinder the promotion of diversity in the economy and foster competition,” he added.
The senators who wrote the bill are the following:
– Senate President Pro Tempore Ralph Recto
– Leader of the Senate majority, Juan Miguel Zubiri
– Minority Leader Franklin Drilon
– Sen. Sonny Angara
– Senator Nancy Binay
– Sen. Sherwin Gatchalian
– Senator Richard Gordon
– Sen. Risa Hontiveros
– Senator Lito Lapid
– Senator Manny Pacquiao
– Senator Francis “Kiko” Pangilinan
– Senator Ramon “Bong” Revilla, Jr.
– Sen. Joel Villanueva
ABS-CBN halted its broadcast operations last week after the National Telecommunications Commission (NTC) issued a cease-and-desist order against their commitment in March, despite directives from the House and Senate to allow The company continues operations while Congress deliberates on its renewal offer.
The Senate adopted a separate resolution urging the NTC to withdraw its cease and desist order against ABS-CBN, citing an NTC memo that automatically extended the validity of franchises and permits expiring during Luzon’s enhanced community quarantine.
Senate, ABS-CBN franchise, ABS-CBN franchise renewal offer, ABS-CBN, provisional franchise, media, press freedom, Congress, NTC, National Telecommunications Commission
[ad_2]