Marcoleta on ABS-CBN and TV5 deal: “Magiging monopoly ito kung tutuusin mo, di ba?”
RODANTE MARCOLETA – The landmark deal between the country’s largest networks ABS-CBN and TV5 is a “monopoly” according to the Sagip party-list Representative.
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.
But for Marcoleta, the landmark deal made by ABS-CBN and TV5 was a “monopoly.”
Monopoly means the “exclusive possession or control of the supply of or trade in a commodity or service.”
In an interview with him by Radyo Pilipinas on the very day of the signing of the contract by TV5 and ABS-CBN executives, Marcoleta said that the Philippine Competition Commission (PCC) and National Telecommunications Commission (NTC) should investigate the possible violation of the anti-trust law.
“TV5 malaki iyan, pagkatapos ABS-CBN, mamo-monopolize ang industry dito,” he said as per article of PEP.ph.
Meanwhile, 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.
Marcoleta is one of the vocal opponents against ABS-CBN and is among the 70 representatives who voted to permanently deny the franchise renewal of ABS-CBN
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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