Friday, March 31, 2023

Rodante Marcoleta Wants to Probe ABS-CBN, TV5 Joint Venture

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Rodante Marcoleta Appeals to Probe ABS-CBN, TV5 Joint Venture

SAGIP party-list representative Rodante Marcoleta wants ABS-CBN and TV5 networks joint venture to be investigated.

In his interview, Marcoleta recommended looking into the reported united effort between TV 5 and ABS-CBN, two of the largest networks in the nation. Marcoleta requested that the Philippine Competition Commission (PCC) look into the possibility of the two networks having a monopoly.

Rodante Marcoleta ABS-CBN TV5

Additionally, he believes that the merging of TV5 and ABS-CBN is an illegal “circumvention” of the law and is only taking place so that ABS can broadcast without a franchise. Additionally, Marcoleta expressed his dismay to the National Telecommunications Commission (NTC).

He emphasized that it appears that the agency is not even acting on the claimed infractions by ABS-CBN. The planned merger of two sizable businesses is another infraction that Marcoleta notices.

” TV 5 malaki yan, pagkatapos ABS-CBN, mamomonopolize ang industry dito. Wala bang say dito ang Philippine Competition Commission? Hindi naman ganun, kaya nga tayo naglatag ng ganitong agency para tingnan ang lahat ng kapakanan ng mga apektadong sektor. Magiging monopoly ito kung tutuusin mo diba?” said Marcoleta.

Recall that the PCC had warned the two networks to watch out for monopolies after their merger. According to PCC, they believe businesses planning significant mergers or acquisitions will do due diligence to ensure that our antitrust laws are being followed and will communicate with the Commission as needed.

The head of TV 5 reiterated that they will not purchase ABS-CBN. He stated that they will be investing in TV5 rather than buying any shares of ABS. Pangilinan said TV5 will own 65 percent, while the remaining 35 percent will go to ABS-CBN.

“We are not acquiring ABS-CBN. We are not acquiring any shares in ABS, instead they will be investing in TV5,” said Pangilinan.

READ ALSO: Enrile Questions Mike Defensor After Spotted at MMDA Event

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