Its hurt! ABS-CBN loses franchise renewal

The House of Representatives Committee on Legislative Franchise has denied the franchise application of ABS-CBC Corp. 

“We are deeply hurt that the Committee on Legislative Franchises has denied the franchise application of ABS-CBN,” Carlo Katigbak, president and chief executive of ABS-CBN Corp. said. 

“We believe that we have been rendering service that is meaningful and valuable to the Filipino public. Nevertheless, we would like to thank the Committee for allowing us a chance to air our side on all the issues raised against us,” he added. 

Katigbak further said, “ ABS-CBN would like to thank all the congressmen who stood by their bills to renew our franchise, or who spoke out on our behalf during the hearings. We are forever grateful.”  

He added that ABS-CBN remains committed to public service, and hopes to find other ways to achieve its mission. 

: Together with our employees and our audiences all over the world, we share in your sadness over this setback.  We look forward to the day when we can again reunite under our broadcast.  Mga Kapamilya, thank you for keeping the faith with us,” Katigbak said. 

“Kapit lang, muling magliliwanag ang kwento ng bawat Pilipino,” he added. 

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