ABS-CBN says yet to receive copy of SC decision vs TRO petition

ABS-CBN News

Posted at Aug 26 2020 12:59 PM

MANILA - ABS-CBN Corp said Wednesday it has yet to receive a copy of the Supreme Court's decision which dismissed the network's plea to stop the closure order issued by the National Telecommunications Commission (NTC) in May.

The Lopez-led firm will provide material disclosure once a copy is received, ABS-CBN Corp said in a disclosure to the stock exchange. 

"We have yet to receive a copy of the Supreme Court's decision. Once we have received a copy of the decision, we will provide material disclosure on the matter," ABS-CBN said. 

The Supreme Court en banc on Tuesday voted to dismiss the plea of ABS-CBN Corp to stop the closure order issued by the NTC in May.

Magistrates present voted to junk the petition on the ground of being moot since the House of Representatives denied the corporation’s bid to renew its franchise in July.

The House of Representatives, last July 10, voted in favor of a committee report denying the network its application for a fresh 25-year franchise.

ABS-CBN's free TV and radio stations nationwide have been shut since May 5 following a cease and desist order from the NTC. It's franchise expired on May 4. 

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