“Such a practice, trying to muzzle media, is inimical to democracy.”
This is what ACT-Teachers Party-list Rep. France Castro had to say about the termination of the ABS-CBN–TV5 partnership termination.
“The termination of the ABS-CBN TV5 deal is unfortunate and will cause a chilling effect on press freedom as well as businesses planning to operate here in the Philippines whether local or foreign,” Castro began on Sunday, Sept. 4.
The investment agreement between the two media giants was forcibly terminated, as reported last Sept. 1.
READ:
https://mb.com.ph/2022/09/01/abs-cbn-tv5-forced-to-terminate-investment-deals/
https://mb.com.ph/2022/09/01/abs-cbn-tv5-terminate-landmark-investment-deal/
“The SEC , the BIR and other government agencies have cleared ABS-CBN of any wrong doing and yet the Duterte administration moved to deny its franchise and shut down its operations causing the unemployment of thousands of employees,” she said.
Previously, Castro defended the partnership after the Philippine Competition Commission found the deal above board and described it as “not notifiable.”
READ: https://mb.com.ph/2022/08/25/abs-cbn-tv5-partnership-above-board-makabayan-solon-insists/
“Their only fault as the Duterte administration and its minions see it is that they continued to report and broadcast the abuses, blunders and inefficiencies of the past administration. Now these minions are continuing this media harassment even with the deal with TV5,” the teacher-lawmaker continued.
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Castro also speculated that the termination of the media deal would scare off investors, serving as a red flag of the country’s investment climate.
“Such a practice, trying to muzzle media is inimical to democracy and now harassing even an above board business deal will send a negative signal to investors that some officials in this country are unprincipled, whimsical and vindictive. Surefire signs of a very bad investment climate in the country.” she concluded.