Citing massive unpaid loans from the Development Bank of the Philippines(DBP), Pres. Rodrigo Duterte said he will oppose attempts to renew the congressional franchise of the Kapamilya network ABS-CBN. Watch the video below.
PRRD said, “The franchise is up for renewal. You ask if I’ll object? Yes, I will object! Unang-una, yung utang nila (sa DBP), tablahin natin yan?”
ABS-CBN, as per PRRD, borrowed money from DBP for rehabilitation after the Lopezes and former President Cory Aquino successfully dethroned Ferdinand Marcos. ‘Tapos hindi nabayaran until now, nalugi nalang ang banko’.
The President also reiterated how ABS treated his candidacy during the 2016 Presidential election where he paid P22 Million for advertisement but the network played Trillanes’s video using kids to dishonor the popularity of then Mayor Duterte. But that was not the point. It was when ABS allowed to show kids in a black propaganda which for Duterte ‘ an ethical and against the law’.
ABS-CBN’s 25-year congressional franchise expires in 2020 and it needs to be renewed for the media giant to continue TV operations..
TV franchises are given via Republic Acts passed by Congress. PRRD, as the Chief Executive, has the option to veto Republic Acts.