BUSINESS THREAT. President Rodrigo Duterte vows to block the franchise renewal of media giant ABS-CBN. Photo of ABS-CBN building from Wikipedia
MANILA, Philippines – Shares of media giant ABS-CBN fell by 2.6% on Wednesday, December 4, a day after President Rodrigo Duterte again lashed out at the network and threatenedShares of the Lopez-led TV network closed at P16.96, lower by 0.46 points from its previous end price of P17.72 on Tuesday. The price is a 6-month low since June 2019.
It has settled within the P17 to P18 price range for several months now, but the P16-level has been a rare low for the stock.ABS-CBN 2-year chart from PSE website Philstocks head of research Jun Calaycay told Rappler that the non-renewal of the franchise will definitely not be appetizing for investors, as it can no longer continue its legacy business as a broadcast network.
“The ABS-CBN franchise issue has become more political than anything else. It is being held hostage under the dictates of the whims of the President,” Calaycay said. (READ:
Dotardte’s delusional character is putting the Philippines on the verge of dictatorship.
BUTI KUNG BUHAY KA PA PAG MAG EXPIRE UN FRANCHISE NILA?! JUST MAKE SURE LANG HA TANDA?!
any country will show full support to their economy by providing varying 'STIMULUS'packages to keep companies floating,providing 'BAILOUT'if they need it. ive never seen a govt kills a thriving corporation along with its employees and their families. 💩govt NOTOABSCBNSHUTDOWN
He and his cohorts will take over d network Ala Marcos martial law. This he can do with his allies in congress and senate.
May araw ka rin Duterte
Hmm... Tapos there will be a massive stock selloff then ang bibili bigla si Dennis Uy. Tapos renewal agad. Hypothetical scenario lang