Carlo Katigbak rebuts allegations against ABS-CBN and the Lopezes with hard facts during second hearing

Carlo Katigbak rebuts allegations against ABS-CBN and the Lopezes with hard facts during second hearing

- Carlo Katigbak attended the second House hearing on ABS-CBN's franchise renewal

- He rebutted the allegations that were thrown by Solicitor General Jose Calida towards the company

- The CEO and President of ABS-CBN answered questions about the citizenship of Gabby Lopez using law-based arguments

- He also rebuffed the issue about the alleged illegal acquisition of the Lopezes of the network as well as the Philippine Depositary Receipts, which Katigbak said a rival network was also doing and yet it did not affect their franchise renewal

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ABS-CBN President and CEO Carlo Katigbak answered the allegations of illegality and violations thrown at them by Solicitor General Jose Calida.

Rightful Ownership

During the second House franchise hearing on Monday, Katigbak said that the Lopezes rightfully reclaimed the network after democracy was restored during the 1986 revolution.

According to Katigbak, the Lopezes did not sell ABS-CBN. Its facilities were simply used by another without paying the network anything.

"Kaya hindi po totoo ang paratang na bigla nalang napasakamay muli sa mga Lopez ang ABS-CBN dahil sila naman ang tunay na may-ari nito."

He also said that the company was taken from the Lopezes during martial law but it was rightfully returned to them after the "1986 People Power Revolution." The return was made possible through the concerted effort from the Presidential Commission on Good Governance, the Office of the President, and the Supreme Court.

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Rival Network's PDRs

Katigbak also addressed the issue on the Philippine Depository Receipts (PDRs) that were thrown at them. He explained that ABS-CBN's rival network also has PDRs and yet it did not affect their franchise renewal.

He further elaborated on the matter. He said that PDRs do not mean ownership in ABS-CBN. It is very clear, according to Katigbak, that holders of PDRs have no right to vote in ABS-CBN.

"Paano ka magiging isang may-ari kung hindi ka pwedeng bumoto sa anumang bagay na may kinalaman sa pagpapatakbo ng kumpanya?"

Having stated his main points, Katigbak emphasized, "Yan po ang aming katotohanan."

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In a previous KAMI report, the hashtag #NoToABSCBNShutDown trended worldwide on Twitter following the cease and desist order and shutdown of the Kapamilya network.

ABS-CBN is one of the most popular media and entertainment outfits in the Philippines. It has produced top-caliber stars, well-loved programs, and timely news. Some of the popular shows are “It’s Showtime” and “TV Patrol.”

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Source: Kami.com.ph

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