NTC's order recalling frequencies has 'no additional impact', says ABS-CBN


Posted at Sep 14 2020 03:00 PM

MANILA - ABS-CBN Corp said Monday the National Telecommunications Commission's order to recall frequencies previously assigned to ABS-CBN Corp and ABS-CBN Convergence Inc has "no additional impact" to the company.

"The recall of the frequencies has no additional impact on ABS-CBN Corporation," the company said in a disclosure to the stock exchange. 

The full impact of the non-renewal of the franchise has been discussed in a disclosure last July, it said. 

The NTC on Sept. 10 released to the media the order recalling the frequencies assigned to ABS-CBN, which it said was “warranted” in the absence of a legislative franchise. ABS-CBN said it received a copy of the decision on Sept. 11.

The NTC in May issued a cease and desist order, shutting down all free TV and radio channels of ABS-CBN after its franchise expired on May 4. 

Its application for a fresh 25-year franchise was denied by the House of Representative's Committee on Legislative Franchises, which led to thousands being retrenched as several of its departments had to close.

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