The Lopez family could suffer a “double whammy” from President Rodrigo Duterte’s wrath at the beginning of the new decade since not only broadcast giant ABS-CBN will cease its operations if it fails to secure renewal of its franchise from Congress, but also its sister company Sky Cable.
Sky Cable Corporation which is under the Lopez Holdings Corporation (formerly Benpres Holdings) needs to secure the passage of their congressional franchise on or before March 30, 2020—the expiration date set by its current franchise under Republic Act No. 7969—or the said entity will have to cease operating as company involved in broadband, cable and satellite television services if Congress fails to act on the franchise bill.
As of January 2017, the company had 1.4 million customers across the country, 200,000 of which are broadband internet subscribers.
Sky Cable also owns at least 26 local/provincial television cable utilities in the country.
Last August, North Cotabato Rep. Jose “Ping” Tejada filed House Bill No. 3121, seeking to grant a 25-year franchise to the Lopez entity “to establish, construct, maintain and operate for commercial purposes cable/community antennae television systems in the Philippines.”
Just like ABS-CBN, the House Committee on Legislative Franchises, chaired by Palawan Rep. Franz “Chicoy” Alvarez has yet to tackle the proposed legislation in connection with the franchise renewal of the cable television giant.
The Lopez family might lost two of their “crown jewels” at the same time by March 2020, since the existing legislative franchises of both ABS-CBN (under R.A. 7966) and Sky Cable are set to expire at the same time on that said period.
On Monday, President Duterte who have accused ABS-CBN of biased reporting and of “swindling” him said that the executives of the media conglomerate should just sell the network rather than face closure.
“Itong ABS-CBN, mag-expire ang contract ninyo, mag-renew kayo, ewan ko lang kung mangyari. Ako pa sa’yo, pagbili na ninyo ‘yan,” said Duterte during a speech in Davao City on Monday.
https://politics.com.ph/hindi-lang-abs-cbn-lopezs-sky-cable-may-shut-down-if-franchise-not-renewed/
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