Lagman calls Freedom of the press, free speech, and the viewing public - as "victims" from the aborted ABS-CBN & TV5 deal

Lagman calls Freedom of the press, free speech, and the viewing public - as "victims" from the aborted ABS-CBN & TV5 deal


It was very controversial to begin with.

The decision by both giant media companies, the Lopez-owned ABS-CBN and the Manuel V. Pangilinan led TV5 to mutually terminate its investment agreement was met with frustration.

Albay 2nd district Rep. Edcel Lagman has made it clear that the losers in this situation is none other the time honored and Constitutionally protected rights of “Freedom of the press, free speech, and the viewing public.

(photo credit to owner)

Lagman called named these three as “victims” of the terminated deal between the shuttered ABS-CBN and fellow local network TV5.

“The Sword of Damocles ominously hangs again over freedom of the press and free speech,” Lagman said in a statement Friday, Sept. 2.

A day earlier, it was reported that the two networks had “mutually agreed to terminate the investment agreement on the purposed acquisition by ABS-CBN of 34.99 percent equity interest in TV5”.

“TV5 and ABS-CBN have scuttled their joint venture agreement under the backdrop of tirades against the agreement from some legislators and the errant demand of the House of Representatives and the National Telecommunications Commission (NTC) that they should first approve the agreement,” noted the Bicolano.

“Another victim of the termination is the viewing public for being deprived of the emergence of fair and healthy competition in the television and broadcast industry which could have been ushered in by the agreement,” he further said.

Lagman, an independent minority solon, has been defending the deal between ABS-CBN and TV5.

The Committee on Legislative Franchises, ultimately voted for the non-renewal of the franchise application.




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Report from Manila Bulletin


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