MANILA, Philippines — House Deputy Speaker Luis Raymund Villafuerte Jr. on Friday urged the Lopez family to just sell ABS-CBN if they really care for its over 11,000 employees, following the denial of its bid for a new 25-year franchise by the lower chamber’s legislative franchise committee. Villafuerte said other big corporations can provide the capital to run ABS-CBN if the Lopez family decides to sell the network. Tutal (Anyway), the Lopez family naman earned already billions and they have other companies. ADVERTISEMENTBut in a speech in December 2019, Duterte said the network should not expect to have its franchise renewed upon its expiration. ABS-CBN was ordered to stop its radio and television operations on May 5, a day after the expiration of its franchise.

Source: Philippine Daily Inquirer July 17, 2020 02:03 UTC