Here’s the reaction of Jay Sonza to the ABS-CBN and TV5 deal
JAY SONZA – A former newscaster of Kapamilya Network reacted to the landmark deal between ABS-CBN and TV5.
It was on Thursday, August 11, when ABS-CBN revealed that it was set to acquire 6.46 million new primary common shares of TV5 for P2.16 billion, representing 34.99 percent of the total voting and outstanding capital stock of TV5.
On the other hand, the Kapatid Network will have the remaining controlling shareholder of 64.79 percent after the completion of the transaction.
While some are celebrating, there are those who are not happy about it. Among those is former Kapamilya newscaster Jay Sonza.
On Facebook, Sonza asked the congressmen if they were “naisahan” by the owner of the Kapamilya network following the signing of the landmark deal.
Here’s the open letter of Jay Sonza to the House of Representatives about the matter:
Congress has yet to give any response regarding the landmark deal between TV5 and ABS-CBN.
Meanwhile, the National Telecommunications Commission (NTC) will investigate the deal between two major networks.
It can be recalled that it was on May 5, 2020, when the National Telecommunications Commission (NTC) and Solicitor General Jose Calida issued a cease-and-desist order to ABS-CBN.
On July 10, 2020, members of the House of Representatives, particularly the Committee on Legislative Franchises, voted 70–11 to deny the franchise application of ABS-CBN, citing several issues with the network’s franchise.
Following the closure of the Kapamilya Network, a lot of ABS-CBN employees lost their jobs. Some workers decided to transfer to other networks.
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