House Committee on Franchise denies ABS-CBN franchise renewalPosted on
DAVAO CITY — And the long wait is over, the House Committee on Franchise on Friday afternoon denied the ABS-CBN franchise renewal.
With 70 voting Yes, the resolution denying the renewal won; 11 Congressman voted no (meaning for the renewal); two inhibited from voting, and, one abstained.
At 3:15 on Friday Committee chairperson, Fran Alvarez of the First District of Palawan banged the gavel and announced that the result of the voting, which killed the effort of the television giant to seek the renewal of their franchise.
Here’s the hows it was announced:
The committee voted to “deny the application of ABS-CBN Corporation for a franchise to construct, install, establish, operate and maintain radio and broadcasting stations in the Philippines”.
The vote simply means more than 11,000 workers under the ABS-CBN group of companies, particularly its broadcast business will lose their jobs. Newsline