SolGen petitions Supreme Court for ABS-CBN's franchise forfeiture

SolGen petitions Supreme Court for ABS-CBN's franchise forfeiture

The Office of the Solicitor General (OSG) has officially asked the High Court to terminate the legislative franchise of broadcast network giant ABS-CBN.
Solicitor General Jose Calida told mediamen that the case was filed to stop the supposed “abusive practices” being done by the giant network.

“We want to put an end to what we discovered to be highly abusive practices of ABS-CBN benefitting a greedy few at the expense of millions of its loyal subscribers. These practices have gone unnoticed or were disregarded for years,” Calida said in a statement.

Solicitor General Jose Calida files a quo warranto petition before the Supreme Court (SC) to forfeit the legislative franchises of ABS CBN Corporation and its subsidiary, ABS CBN Convergence Inc. (PDI)

OSG Calida said the petition will show that ABS-CBN has been hiding behind an “elaborately crafted corporate veil” because foreign investors take part in the ownership of the network which is in violation of the foreign interest restriction of mass media under the 1987 Constitution.
Section 11, Article XVI of the Constitution provides that: The ownership and management of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives or associations, wholly-owned and managed by such citizens.
Calida alleges that ABS-CBN’s issued Philippine Deposit Receipts (PDRs) through ABS-CBN Holdings Corporation to foreigners, in violation of the Constitution.

“This simply means that mass media companies operating in the Philippines must be 100 percent Filipino owned because they play an integral role in a nation’s economic, political, and socio-cultural landscape,” Calida said.

What can you say about this?

Share us your thoughts by simply leaving on the comment section below. For more news updates, feel free to visit our site often.

Stay updated with today's relevant news and trends by hitting the LIKE button.

Thanks for dropping by and reading this post.

Report from PDI

Disclaimer: Contributed articles does not reflect the view of THE PH CHRONICLES. This website cannot guarantee the legitimacy of some of the information contributed to us. You may do additional research if you find some information doubtful. No part of this article maybe reproduced without permission from this website.

Post a Comment