Tough battle ahead for Lopez family’s ABS-CBN and MVP Group’s TV5

Bilyonaryo Manuel V. Pangilinan and the Lopez family face a long, hard battle as some lawmakers oppose the landmark partnership agreement forged between ABS-CBN and TV5.

Sagip party-list Rep. Rodante Marcoleta, at staunch critic of ABS-CBN, now claims TV5 may have violated the memorandum order issued by the National Telecommunications Commission which states “ that a franchise grantee should not enter into commercial agreements in which the NTC has jurisdiction.”

“With the substantial purchase of the outstanding stocks of ABS-CBN, I believe Section 10 of the franchise of TV5 was violated because the rights and obligations have virtually been transferred to ABS-CBN,” Marcoleta said during his privilege speech.

In 2019, TV5’s franchise was renewed for another 25 years.

Marcoleta has also brought up the foreign ownership connections of TV5.

“Mediaquest, the parent company of TV5, is owned by PLDT Beneficial Trust Fund. And the grapevine is so loud that PLDT Beneficial Trust fund is owned by an Indonesian national,” he said.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.