ABS-CBN Franchise Expired Today


ABS-CBN Corporation legislative franchise to expire today, May 4, 2020

Solicitor General Jose Calida warns National Telecommunications Commission (NTC) vs granting provisional authorities to operate broadcasting services, to ABS-CBN Corporation and affiliate ABS-CBN Convergence Inc, despite the absence of franchises from Congress.

NTC’s commissioners may face graft charges if it issues ABS-CBN a provisional permit according to Calida. On the other hand House Speaker Alan Peter Cayetano previously argued that the National Telecommunications Commission’s (NTC) issuance of provisional authority to operate would be enough for ABS-CBN to stay on air beyond May 4 while the 18th Congress tackled the bills on its franchise renewal, as the Congress resumes session today.

President Rodrigo Duterte already accepted the apology offered by ABS-CBN President Carlo Katigbak during a Senate hearing for airing an anti-Duterte ad during the 2016 campaign which was paid for by the opposition. More..

ABS-CBN(ABS) stock has last traded price of 18.00 up by +8.56% as of April 30. Let see what is the market reaction today.

-May 4, 2020 StockBytes! PH

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