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Foreign investors can't convert PDRs into shares: ABS-CBN execs

ABS-CBN News
Updated as of Jun 12 08:31 AM

ABS-CBN Holdings Corp's Philippine Depositary Receipts (PDRs) do not violate the constitutional restriction on 100-percent Philippine mass media ownership since no foreign investor has convert his or her PDRs into shares in ABS-CBN Broadcasting Corp, ABS-CBN officials said Thursday. Read more »

ABS-CBN to House: PDR holders 'passive investors,' not shareholders

Jessica Fenol, ABS-CBN News
Updated as of Jun 11 06:48 PM

Philippine Deposit Receipt (PDRs) issued by ABS-CBN Holdings are purely financial instruments and its holders are "passive investors" who have no rights to own, manage or to vote directors in ABS-CBN Broadcasting Corp, the network's legal counsel said Thursday.    Read more »

ABS-CBN's Philippine Depositary Receipts different from Rappler’s, legal counsel says

ABS-CBN News
Updated as of Jun 09 12:56 AM

MANILA (UPDATE) - ABS-CBN Holdings' Philippine Depositary Receipts or PDRs are different from those of news website Rappler's, a legal counsel of the network said on Monday during a joint House committee hearing on ABS-CBN's broadcast franchise.  Read more »

Gabby Lopez 'inevitably qualified' to own, manage ABS-CBN: lawmaker

ABS-CBN News
Updated as of Jun 09 09:04 AM

ABS-CBN chairman emeritus Eugenio "Gabby" Lopez III is "inevitably qualified" to own and manage a mass media company since there is no distinction between Filipinos and dual citizens under Philippine laws, a lawmaker said Monday. Read more »

SEC agrees, dual citizens are '100 percent Filipino'

Jessica Fenol, ABS-CBN News
Updated as of Jun 08 07:23 PM

The Securities and Exchange Commission said Monday, it shared the view of the Justice Department that dual citizens are also 100 percent Filipino, its commissioner said.  Read more »

Solon seeks strict regulations for new ABS-CBN franchise

Christian V. Esguerra, ABS-CBN News
Updated as of Jun 04 08:05 AM

An administration congressman on Wednesday pushed for a new 25-year operating franchise for ABS-CBN but with a strong set of regulations, which were seen as the government's way to control the shuttered news network repeatedly criticized by President Rodrigo Duterte. Read more »

NTC 'regrets' not informing Congress of CDO vs ABS-CBN

ABS-CBN News
Posted at Jun 01 02:28 PM

The National Telecommunications Commission said on Monday it did not intend to cause any "confusion" when it issued a shutdown order against ABS-CBN without informing Congress.    Read more »

Solon's claims vs ABS-CBN need fact-check, journalism professors say

Christian V. Esguerra, ABS-CBN News
Updated as of May 28 01:31 AM

MANILA (UPDATED) - Journalism educators on Wednesday called out a congressional leader over his allegations against ABS-CBN, warning that committee hearings on its application for a new broadcast franchise might be used to spread fake news against it. Read more »

THE DAY IN PHOTOS: May 26, 2020

ABS-CBN News
Posted at May 27 12:49 AM

Here are the big stories today in photos. Read more »

ABS-CBN execs appear at House hearing on network's franchise

Jonathan Cellona, ABS-CBN News
Posted at May 26 04:39 PM

ABS-CBN executives led by President and COO Carlo L. Katigbak attend the first hearing of the House of Representatives committee on legislative franchises to tackle the renewal of ABS-CBN's franchise on Tuesday Read more »

ABS-CBN makes case for franchise: Protect jobs, keep public service going

ABS-CBN News
Updated as of May 26 03:00 PM

ABS-CBN Corp President and CEO Carlo Katigbak on Tuesday appealed to lawmakers for a new franchise, citing the "suffering" of its 11,000 workers and its decades-long commitment to public service. Read more »

Pagdinig ng Senado sa prangkisa ng ABS-CBN

ABS-CBN News
Posted at Feb 24 09:47 PM

Humarap sa Senado ang mga opisyal ng ABS-CBN para sagutin ang mga alegasyon ng paglabag sa prangkisa ng network.  Read more »

ABS-CBN PDRs 'compliant' with law, as SEC says ownership rules evolving

ABS-CBN News
Updated as of Feb 25 12:25 AM

If the rules on PDRs changed since ABS-CBN Holdings Corp issued the first ones in 1999, it should be allowed to "rectify" the investment instruments to reflect the changing regulations. Read more »

ABS-CBN says it is 'fully compliant' with labor laws

ABS-CBN News
Updated as of Feb 24 05:03 PM

The country's leading media and entertainment company answered questions on "endo" or illegal contractualization ahead of the expiry of its 25-year license to operate in March. Read more »

ABS-CBN pays taxes regularly, BIR tells Senate panel

ABS-CBN News
Updated as of Feb 24 12:42 PM

The company paid P14,398,464,316.66 in taxes in from 2016 to 2019 except for income taxes last year which will be submitted in April, said Simplicio Cabantac Jr, head of Large Tax Payers Audit Division 3 of the BIR Read more »

Solons press House to hear ABS-CBN franchise bills amid quo warranto filing

RG Cruz, ABS-CBN News
Posted at Feb 10 07:41 PM

Philippine lawmakers who support the granting of a fresh broadcast license to ABS-CBN Corp urged the House of Representatives on Monday to start tackling the company's franchise bills following the filing of a quo warranto petition by the government's top lawyer. Read more »