In the wake of the merger of TV5 and ABS-CBN, supporters of the Kapamilya network have every reason to be jubilant because that means their favorite network is returning to free TV via TV5 frequency sooner than they expected.
However, the marriage between TV5 and ABS-CBN appears to be on the rocks even before they get to enjoy their honeymoon?
Why? Here’s what political writer Mr. Raymond Satnamul revealed in his Facebook post dated August 14, 2022.
According to Mr. Raymond Satnamul, Executive Order No. 546 signed by President Ferdinand Marcos Sr. mandated the NTC “to supervise and regulate, among others, radio and television broadcast stations to encourage a larger and more effective and efficient use of radio and television (RTV) broadcasting facilities and to maintain effective competition.”
Another gem found by Mr. Raymond Satnamul is the most recent Executive Order drafted by the NTC last June 2022 which in my opinion, further gave teeth to the NTC with explicit instruction to prohibit mergers and acquisitions with those who have outstanding obligations to the national government and local government units.
Mr. Raymond Satnamul shared a Filipino sayings regarding ‘third wheels’ having an accompanying glitches.
On that note, Mr. Raymond Satnamul ended the FB post urging the NTC Commissioner to scrap the ABS-CBN-TV5 deal.
You may now read Mr. Raymond Satnamul’s original FB post below for a detailed explanation of his assertion.
MARRIAGE ON THE ROCKS
It seems that the recently done ‘marriage deal’ between TV5 and ABS-CBN is about to be ruined, spoiled or thrown in the garbage bin.
Last Thursday, ABS-CBN signed an agreement with TV5 allowing it to acquire 6.46 million primary common shares, equivalent to 34.99% of capital and voting stock of the latter for P2.16 billion.
Following the acquisition of shares, the equity of MediaQuest Holdings, Inc., headed by Manny V. Pangilinan – which operates TV5, will be trimmed to 64.79% of voting and capital stock.
For me, this is a classic example of the metaphor – “if you can’t make it at the front door, do it at the back door.”
Cleverly, ABS-CBN has entered into blocktime agreements with Zoe Broadcasting Network and TV5 for some of its shows to return to free TV since its broadcast operations were shut down following the denial of its franchise application in 2020.
Is there a violation with all of these transactions? Here’s my humble opinion.
According to Executive Order (E.O.) No. 546, signed by President Ferdinand Edralin Marcos in 1979, the National Telecommunications Commission (NTC) is mandated “to supervise and regulate, among others, radio and television broadcast stations to encourage a larger and more effective and efficient use of radio and television (RTV) broadcasting facilities and to maintain effective competition.”
In a Memorandum Order drafted by the NTC last June 2022, section 2 provides that “In addition to the conditions and limitations provided in the grantees’ legislative franchise on mergers and acquisitions, the grantee shall NOT enter into mergers, joint venture agreements, sale, or any other commercial agreements/arrangements on matters within the Commission’s mandate and jurisdiction, such as transfer of authority and sale/use of NTC regulated equipment, with those who have outstanding obligations to the national government and local government units.”
I repeat…NOT to enter into mergers and acquisitions, joint venture agreements, sale…with those who have outstanding obligations with the national government.
In other words, ‘basta kabit, talagang may sabit’.
Scrap the deal! Commissioner Gamaliel!
Reaction?
Source: Raymond Satnamul
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