Cayetano weighs on ABS-CBN's 'too much power,' entertainment value at franchise renewal hearing

MANILA, Philippines — House Speaker Alan Peter Cayetano believed that the entertainment industry gives color to Filipinos' everyday lives. 

"Let us not underestimate the importance of entertainment to the lives of Filipinos," Cayetano said during the House hearing on ABS-CBN franchise renewal today.

"Kaya nga maraming may mental health problem e, sa lungkot. At ito pong mga artista, creative artists, OPM, 'yung mga nasa event industries, sila ang nagbibigay kulay sa ating buhay," Cayetano added. 

He also called on both parties to just wait for the final decision and avoid making speculations. 

"Now, as we await the final decision on ABS-CBN franchise, I would respectfully ask all parties to refrain from making speculation. Walang mangyayari kung magsisiraan tayo or may fake news. Or worse, resorting to lies and false information that can only muddle the issue," Cayetano said. 

The Taguig representative also said that a corporation's "too much power" is a threat to democracy.

"Kapag naging masyadong makapangyarihan ang isang korporasyon, na parang siya na ang may-ari ng gobyerno, it is even a bigger threat to our democracy," he said. 

"We should keep media away from the hands of politicians, but also away from the hands of big business."

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Various sectors have urged President Rodrigo Duterte to support the bill renewing the franchise of ABS-CBN, noting that thousands of workers may lose their jobs if the network shuts down.