Ogie Diaz Responds to Marcoleta’s Claim that the ABS-CBN-TV5 Deal is Illegal: ‘Ikaw Sasagip ng Mawawalan ng Trabaho? ’

Ogie Diaz spoke out after Sagip party-list Rep. Rodante Marcoleta urged Congress to investigate the merger of ABS-CBN and TV5, claiming it violated laws and the 1987 Constitution.

Diaz asked Marcoleta to “move on” on his Twitter page yesterday, Aug. 15, pointing out that many workers may lose their jobs because the congressman has now set his sights on TV5.

Marcoleta was among those who lobbied against the provision of a franchise for ABS-CBN during the 18th Congress, causing the network to suspend TV and radio broadcasts in 2020. Given the agreement between ABS-CBN and TV5, Marcoleta questioned whether ABS-CBN should resume free television operations.

“Juice ko po, sir. Sumunod naman, pero ayaw n’yong tanggapin. Ngayong bumili ng shares, me kuda pa din kayo,”

“Juice ko po, sir. Sumunod naman, pero ayaw n’yong tanggapin. Ngayong bumili ng shares, me kuda pa din kayo,”Ogie said.

The National Telecommunications Commission issued a cease and desist order to ABS-CBN in 2020 after its bid for network franchise renewal was denied by Congress on May 5, 2020.

ABS-CBN and TV5 announced an investment agreement on August 12 that is expected to improve TV5’s broadcasting presence while also providing ABS-CBN with a way around its lack of franchise and a venue for its programs to air on free TV.

6.46 million common shares of TV5, or 34.99 percent of its total outstanding capital stock, will be acquired in the transaction, which is expected to close within the month. TV5 will also issue P1.84 billion in convertible notes to ABS-CBN as part of the merger.



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