![[OPINION] Reversing the ABS-CBN decision](https://i.headtopics.com/images/2020/7/17/rapplerdotcom/opinion-reversing-the-abs-cbn-decision-1284209021759741952.webp)
'ABS-CBN as a company will not be destroyed, but will be strengthened by what was done to it.' Opinion
Last Friday, the House Committee on Legislative Franchises denied ABS-CBN a new franchise to operate as a broadcasting network. This was a political decision by President Rodrigo Duterte that leaders of the majority in the House of Representatives executed. Although explicitly admitted by the President a few days ago, any observer would have seen who was behind all the machinations against the company.
ABS-CBN as a company will not be destroyed, but will be strengthened by what was done to it. Analysts have said that this positive outcome could happen if the company is able to traverse a complete transition to digital and internet-based formats which anyway is the future of media and entertainment. The excellence and integrity of Carlo Katigbak, Cory Vidanes, and Ging Reyes gives me confidence that they will be able to lead their company to continued dominance in the field.
The TWG , and the Committee on Legislative Franchises erred in the facts, interpreted the law wrongly, and distorted public policy in denying ABS-CBN a new franchise. Time and again, the Supreme Court has said that having a foreign passport does not mean that one has renounced his Filipino citizenship. Three decades of service to the Filipinos and his track record as an executive of ABS-CBN will speak for itself. Being a natural-born Filipino, Lopez is entitled to all the rights and privileges accorded thereto.
Many have said that this arbitrary decision on ABS-CBN is the final nail on foreign direct investment in the Philippines. We are now a pariah to foreign investors.While the owners of ABS-CBN, by reorganizing and redirecting its business, can recover from the non-renewal of its franchise. the people and our country will suffer immensely from this combined presidential and congressional decision.
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