MANILA, Philippines — The new partnership between ABS-CBN Corp. and TV5 Network Inc. can be an “antidote” to monopoly, contrary to what critics of the deal might raise, according to Kapisanan ng mga Brodkaster ng Pilipinas (KBP) president Herman Basbaño.
“I’d like to believe that on the contrary, this is even an antidote to monopoly because in the present situation, there seems to be a so-called monopoly because we know that there is one TV network that seems to dominate the TV broadcast industry,” Basbaño told “The Chiefs” on Cignal TV’s One News on Thursday.
He added the partnership would result in healthier competition, as television networks in the country would be forced to produce better programs to attract more advertisers.
He also emphasized that the deal would help the country’s economy by creating jobs.
Thousands ended up jobless when ABS-CBN lost its franchise in 2020 during the Duterte administration.
“Malaking bagay ito (This is something big). It’s more of, the impact is positive to everyone, even to GMA (network). If there is competition, it brings out the best in us. We need this now,” he said. “It’s GMA that is dominating everything now, and this is the answer to that and the impact – there will be healthier competition.”
On the same day TV5 and ABS-CBN announced the deal, SAGIP party-list Rep. Rodante Marcoleta asked the Philippine Competition Commission (PCC) and the National Telecommunications Commission to have it reviewed. The NTC said it is “monitoring developments” in the joint venture.
In a statement, the PCC said it has yet to be formally notified of the agreement, but has directed its Mergers and Acquisitions Office to check if the partnership warrants a motu proprio review.
For its part, the NTC said that it would review the partnership due to the alleged violations of ABS-CBN.
Asked to comment on calls to review the partnership, Basbaño said that “it just has to be open for scrutiny.” But he emphasized the legal teams of both networks “have all taken into consideration” the legal ramifications of the partnership.
“I’d like to believe that all things have been covered. Let’s wait and see what happens next,” Basbaño said.