House freezes ABS-CBN franchise bill, firm takes movies to China market…

MANILA, Philippines — The House of Representatives has frozen the bill, which seeks to renew the legislative franchise of broadcasting giant ABS-CBN Corp. The franchise expires in nine months or on March 20, 2020.?Without a franchise renewal, the radio-television network may have to close shop.?There are speculations that the? Lopez-owned broadcasting firm is strengthening its online service in preparation for that possibility.?The Committee on Legislative Franchises, where House Bill 4349 bill had been pending since November 2016, did not submit a report on it before the outgoing 17th Congress adjourned its third and last regular session yesterday.?This means that the renewal measure would have to be re-filed in the 18th Congress, which convenes on July 22.?https://www.philstar.com/business/2019/06/12/1925627/house-freezes-abs-cbn-franchise-firm-takes-movies-china-market

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