THE deal between television networks' TV5 and ABS-CBN is not a merger, Albay 1st District Rep. Edcel Lagman said.He said this in a letter on the 'looming House investigation which may result in the derogation of press freedom and free speech'.'Mr. Speaker, there is absolutely nothing wrong with that arrangement,' Lagman said in his August 22 letter to Speaker Martin Romualdez, a copy of which was shared with reporters on Wednesday.
Lagman said the deal 'is not a merger', explaining that TV5 and ABS-CBN remain separate juridical entities.'Moreover, there is no merger or transfer of controlling interest in TV5', he said.Two committees of the House of Representatives--the Committee on Legislative Franchises and the Committee on Trade and Industry--are scheduled to hold a joint meeting on Wednesday afternoon on Sagip Rep. Rodante Marcoleta's privilege speech regarding the deal.
It was a tactical bluff/move by TV5 & ABS CBN when they announced in media their supposed collaboration/merger, and as they expected to trigger Congress to react and initiates a probe. TV5 & ABS CBN are laughing. Lets wait/see how Congress reacts & put to rest their bluffing.
It was a tactical bluff/move by TV5 & ABS CBN when they announced in media their supposed collaboration/merger, and as they expected to trigger Congress to react and initiates a probe. TV5 & ABS CBN are laughing. Lets wait/see how Congress reacts & put to rest their bluffing.
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