The House Legislative Franchises and Trade and Industry committees’ joint inquiry on TV5’s investment deal with ABS-CBN may result in the “derogation” of press freedom and free speech, Albay Representative Edcel Lagman said Wednesday.
Lagman said this in his letter to Speaker Martin Romualdez ahead of Wednesday’s congressional inquiry on the deal, which would allow ABS-CBN to acquire 34.99% of TV5’s total outstanding capital stock.
Lagman argued that the investment deal between TV5 and ABS-CBN is for fair play and is not subject to Philippine Competition Commission’s scrutiny and approval since its transaction value is just P4.45 billion, lower than the P50-billion threshold set under the Bayanihan to Recover as One law.
“I write on behalf of my constituents and concerned citizens about the looming House investigation which may result in derogation of press freedom and free speech, the bedrock of democratic governments,” Lagman said in his letter.
The veteran lawmaker said the transaction between the two networks “enhances fair competition in the television and broadcast industry. Without a franchise, ABS-CBN ceased to be a major player in the industry.”
“One television network presently dominates the industry. With the recent infusion of TV5, the playing field approximates leveling. There is absolutely nothing wrong with that arrangement. What is definitely errant is when authorities trample on the freedom of expression and of the press,” Lagman said.
Lagman argued that such investment is also in accordance with Section 10 of TV5’s renewed franchise under Republic Act 11320, “because there is no sale, lease, transfer or grant of the usufruct or assignment of T 5’s franchise to ABS-CBN.”
“There is no franchise issue. There is no merger or transfer of controlling interest in TV5,” Lagman stressed.
“Healthy competition will ensue as networks would compete for revenues and viewership. Competition also improves the quality of shows, news coverage, commentary, and entertainment. Not even the current dominant network expresses opposition to the transaction.”
Three lawmakers have filed resolutions seeking investigation into the franchise of TV5 for possible violations over its alleged foreign ownership and its block time agreement with ABS-CBN.
The two media networks announced their investment agreement earlier this month.
Sagip party-list Rep. Rodante Marcoleta said the Philippine Competition Commission should carefully review the agreement to ensure it is in accordance with the law as it may lead to a monopoly. —KBK, GMA News
Lagman: House probe on TV5-ABS-CBN deal a threat to press freedom, free speech
Source: News Panda Philippines
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