The development on the at-risk franchise renewal of media giant ABS-CBN Corp. will dictate the movement of its shares this week. On the day the petition was filed, ABS-CBN shares dropped 30 centavos or 1.76 percent to finish at P16.70 apiece. “This shows that investors are still hopeful with the franchise renewal of the broadcast network,” he said. Year-to-date, ABS-CBN shares have grown 9.17 percent. “ABS-CBN complies with all pertinent laws governing its franchise and has secured all necessary government and regulatory approvals for its business operations,” it added.

Source: Manila Times February 16, 2020 16:25 UTC