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Marcoleta authored bills granting franchises to GMA, other firms older than 50 years

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Mike Navallo, ABS-CBN News

<blockquote class="twitter-tweet"><p dir="ltr" lang="en">ABS-CBN News also found out Marcoleta was one of the principal authors of a bill renewing the franchise of Republic Broadcasting System, Inc., (GMA Network). Like ABS-CBN Holdings, GMA Holdings, Inc. issues PDRs. The language of both PDRs are exactly the same. <a href="https://t.co/Y8ZktbMkZ7">pic.twitter.com/Y8ZktbMkZ7</a></p>— Mike Navallo (@mikenavallo) <a href="https://twitter.com/mikenavallo/status/1268161069542805505?ref_src=twsrc%5Etfw">June 3, 2020</a></blockquote><p><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script>MANILA -- SAGIP Party-list Rep. Rodante Marcoleta authored bills granting franchises to companies with more than 50-year franchises and which offer Philippine Depositary Receipts (PDRs), contrary to his position on the ABS-CBN franchise. </p><p>Based on his legislative record, ABS-CBN News found out that Marcoleta was one of the authors of a bill renewing the franchise of Republic Broadcasting System, Inc., now known as GMA Network.</p><p>In <a href="https://news.abs-cbn.com/news/05/26/20/critics-go-after-abs-cbn-in-house-franchise-hearing">opposing the grant</a> of a new franchise to ABS-CBN, Marcoleta claimed that a franchise can only last for 50 years, citing the Constitution, and that a Philippine Depositary Receipt or PDR is a means for foreign ownership.</p><p>House Bill 04631 was first introduced in Dec. 2016, approved on third reading at the House of Representatives in Jan. 2017, and signed into law as <a href="https://www.officialgazette.gov.ph/2017/04/21/republic-act-no-10925/">RA 10925</a> by President Rodrigo Duterte in April 2017.</p><p>Like ABS-CBN Holdings, GMA Holdings, Inc. <a href="https://news.abs-cbn.com/news/06/01/20/abs-cbn-statements-on-lopez-citizenship-50-year-franchise-limit-pdr-lopez-ownership">also offered</a> PDRs to foreigners.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">A 2007 document shows GMA Holdings, Inc. offered 182,692,000 PDRs to the domestic market and 639,423,000 PDRs to the international market. As of March 2020, 13.02% of GMA&#x27;s PDRs are held by foreigners. It reached 23.57% in June last year. <a href="https://t.co/ZcsMy82dY5">pic.twitter.com/ZcsMy82dY5</a></p>— Mike Navallo (@mikenavallo) <a href="https://twitter.com/mikenavallo/status/1268161071849762816?ref_src=twsrc%5Etfw">June 3, 2020</a></blockquote><p><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script>Based on a 2007 document when GMA first offered its shares to the public, GHI offered 182,692,000 PDRs to the domestic market, while more than 639,423,000 PDRs were offered in the international market.</p><p>GMA Holdings&#x27; latest disclosure to the Philippine Stock Exchange in March this year shows 13.02% of GMA&#x27;s PDRs are held by foreigners. It reached 23.57% in June last year.</p><p>The language of the PDRs of both companies are exactly the same: &quot;Not to alter, modify or otherwise change of Incorporation or By-Laws or take any other action so as to materially prejudice the Rights in relation to the PDRs...&quot;</p><p>GMA, meanwhile, has been airing for 70 years, beyond the 50-year limit Marcoleta has raised against ABS-CBN.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Marcoleta authored franchises for:<br/>-Bohol Chronicle Radio Corp. (1966)<br/>-Catholic Bishops&#x27; Conference of PH (1967)<br/>-Rajah Broadcasting Network (1965)<br/>-Associated Broadcasting Company or TV5 (1960)<br/>which all secured their first franchises more than 50 yrs ago. <a href="https://t.co/2vBwZjX7Ol">pic.twitter.com/2vBwZjX7Ol</a></p>— Mike Navallo (@mikenavallo) <a href="https://twitter.com/mikenavallo/status/1268161074378838016?ref_src=twsrc%5Etfw">June 3, 2020</a></blockquote><p><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script>Aside from GMA&#x27;s franchise, Marcoleta, during the 17th Congress, also authored bills for the following companies, which secured their first franchises more than 50 years ago: </p><ul>	<li>Bohol Chronicle Radio Corp., which first obtained its franchise in 1966;</li>	<li>Catholic Bishops&#x27; Conference of the Philippines, which was given its first franchise in 1967;</li>	<li>Rajah Broadcasting Network, first granted a franchise in 1965;</li>	<li>Associated Broadcasting Company or TV5, which secured its first franchise in 1960.</li></ul><p>Meanwhile, Marcoleta also voted in favor of House Bill 78 amending the Public Service Act that would allow 100% foreign ownership in telecoms and other public services.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Marcoleta voted for HB 78 amending Public Service Act w/c allows 100% foreign ownership in telecoms, public services. HB 78 limits public utilities to distribn and transmission of electricity, water pipeline distribn, sewerage pipeline subject to 60-40 ownership reqt. <a href="https://t.co/kE3ZCTPiE5">pic.twitter.com/kE3ZCTPiE5</a></p>— Mike Navallo (@mikenavallo) <a href="https://twitter.com/mikenavallo/status/1268180620561092609?ref_src=twsrc%5Etfw">June 3, 2020</a></blockquote><p><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script>HB 78 limits the definition of public utilities to distribution of electricity, transmission of electricity, water pipeline distribution, and sewerage pipeline, which means all other public services are not subject to 60-40% Filipino-foreigner ownership ratio.</p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/life/06/03/20200603-marcoleta-co-sagip-party-list.jpg"/><figcaption>SAGIP Party-list Rep. Rodante Marcoleta. <em>Photo courtesy of SAGIP Party-list Facebook</em></figcaption></figure></div><p>ABS-CBN News tried to get Marcoleta&#x27;s side since Tuesday. He said on Wednesday he will speak to the media on Thursday.</p><p>ABS-CBN, the country&#x27;s largest media and entertainment company, halted its broadcast operations last May 5, on orders of the National Telecommunications Commission, due to its expired franchise.</p><p>Several bills seeking to grant ABS-CBN a fresh 25-year franchise have been pending at the House of Representatives from as early as 2014.</p><div><em>news.abs-cbn.com is the official news website of ABS-CBN Corp.</em></div>

<p>SAGIP Party-list Rep. Rodante Marcoleta authored bills bills granting franchises to companies with more than 50-year franchises and which offer PDRs, contrary to his position on the ABS-CBN franchise. </p>

SAGIP Party-list Rep. Rodante Marcoleta authored bills bills granting franchises to companies with more than 50-year franchises and which offer PDRs, contrary to his position on the ABS-CBN franchise.

Marcoleta authored bills granting franchises to GMA, other firms older than 50 years

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Marcoleta authored bills granting franchises to GMA, other firms older than 50 years

Mike Navallo,

ABS-CBN News

Published Jun 03, 2020 11:42 PM PHT

|

Updated Jun 04, 2020 10:06 AM PHT

Read More:

ABS-CBN franchise

ABS-CBN franchise renewal

Rodante Marcoleta

SAGIP Party-list

foreign ownership in mass media

GMA Network

Republic Broadcasting System

GMA Holdings Inc.

ABS-CBN Holdings

Philippine Depositary Receipts

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