MANILA, Philippines — Quezon City will lose “quite a lot” with the closure of media giant ABS-CBN, Mayor Joy Belmonte admitted on Monday. ABS-CBN headquarters is located along Mother Ignacia Street in Quezon City. She said the closure of the country’s biggest broadcast network will affect “the concerns that we are worried about.”“Quezon City is known as the city of stars, the city of movies, the city of entertainment, and the ABS-CBN foundation and ABS-CBN in general have been part of this branding of the city,” Belmonte said. ABS-CBN was forced to close down after its franchise expired on May 4 and Congress junked its bid for a fresh 25-year franchise. Without a new franchise, ABS-CBN said it would start the retrenchment of some of its 11,000 employees by the end of August.

Source: Philippine Daily Inquirer July 20, 2020 02:48 UTC