Television giant ABS-CBN has issued a statement in response to the quo warranto petition filed by Solicitor General Jose Calida.
“The Office of the Solicitor General’s filing of a quo warranto case against ABS-CBN on alleged violations of its franchise appears to be an effort to shut down ABS-CBN to the serious prejudice of millions of Filipinos who rely on the network for news, entertainment and public service,” the statement read.
ABS-CBN said the allegations cited by the Office of the Solicitor General in the petition do not have merit.
“ABS-CBN complies with all pertinent laws governing its franchise and has secured all necessary government and regulatory approvals for its business operations,” the statement added.
The network said that all their broadcast offerings, including KBO, have received the necessary government and regulatory approvals and are not prohibited by their current franchise.
“ABS-CBN Holdings’ Philippine Deposit Receipts or PDRs were evaluated and approved by the Securities and Exchange Commission and the Philippine Stock Exchange prior to its public offering. These are the same instruments used by other broadcast companies to raise capital for the improvement of services,” the said.
The network added that the timing of the petition is also questionable given that Congress has resumed its session to tackle the franchise.
