TV network ABS-CBN insisted that they comply with all pertinent laws regarding their franchise.
ABS-CBN issued a statement on Monday, Feb. 10, in response to the quo warranto petition filed at the Supreme Court by the Office of the Solicitor General (OSG) seeking to revoke the franchise of ABS-CBN for alleged violations.
The media giant sees the move of the OSG as ‘an effort to shut down ABS-CBN to the serious prejudice of millions of Filipinos who rely on the network for news, entertainment, and public service’.
According to the giant network, the OSG’s allegations dont have merit. The media group added that they have secured all necessary government and regulatory approvals for its business operations.
ABS-CBN explained that all their broadcast offerings, including KBO, have received the necessary government and regulatory approvals and are not prohibited by their franchise.
The group also said that the Securities and Exchange Commission and the Philippine Stock Exchange evaluated and approved the Philippine Deposit Receipts (PDRs) of ABS-CBN Holdings prior to its public offering.
ABS-CBN insisted that other broadcast companies use PDRs to raise capital for the improvement of their services.
ABS-CBN also said that their ownership ABS-CBN Convergence was undertaken under the same law and structures that have been utilized by other telecommunications companies.
The media entity insisted that the transfers are approved under the Public Telecommunications Policy Act and are fully compliant with the law.
“We reiterate that everything we do is in accordance with the law. We did not violate the law. This case appears to be an attempt to deprive Filipinos of the services of ABS-CBN,” the network said in a statement.
“KBO remains one of the the cheapest forms of entertainment that we can provide to the public. The capital we have raised from the PDRs has enabled us to provide services to nearly 90 percent of the Philippines and to our OFWs all over the world. Our work with ABS-CBN Convergence supports the government policy of finding ways to bring down the cost of internet access,” the network added.
ABS-CBN also finds the filing of the quo warranto petition as ‘ill-timed’ since Congress just resumed session, and 11 bills have been filed seeking to renew the franchise of ABS-CBN, which will expire on March 30
“The Senate, the House of Representatives, and the Executive Branch have assured the public that our franchise will be allowed to go through the proper renewal process in a fair manner,” ABS-CBN said.
The network, meanwhile, assured the public that they remain committed to their mission to serve the Filipino people, especially delivering information regarding the 2019 novel coronavirus acute respiratory disease, developments in the Middle East, and updates on Taal Volcano situation.