Rep Marcoleta questions TV5-ABS-CBN deal

Sagip party-list Representative Rodante Marcoleta stated that TV5's partnership with ABS-CBN violates its broadcasting franchise.

Marcoleta cited Section 10 of TV5's franchise, which requires congressional approval for mergers with other companies.

The deal involved ABS-CBN acquiring a 35 percent stake in TV5 for P2.16 billion.

Marcoleta argued that this stock sale effectively transfers TV5's franchise rights and obligations to ABS-CBN.

He questioned whether a company could transfer its franchise when Congress denied ABS-CBN its own franchise due to violations and unpaid obligations.

Marcoleta also claimed that ABS-CBN violated the Constitution concerning exclusive Filipino ownership and management of mass media through its Philippine Depositary Receipts.

The lawmaker also mentioned that ABS-CBN owes the government approximately P1.6 trillion in administrative penalties.