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Biz tycoon Manny Villar to buy ABS-CBN?

The country’s richest man is reportedly interested in taking a stake in the country’s largest media company ABS-CBN Broadcasting Corp.
A source from the Lopez group which owns majority of ABS-CBN revealed that Villar was interested in the broadcast giant both for business and political purposes.

The source said a top Villar official has been widely quoted as saying publicly that the former senator has both the motive and the means to take over ABS-CBN if it was available for the taking.

ABS-CBN is widely seen as a kingmaker in past elections owing to its dominance in television news and programs.

But ABS-CBN power-trip Duterte in the 2016 Presidential elections after it refused to air Duterte's campaign ads despite taking the payment for it. Instead, ABS-CBN aired nasty ads-even exploited innocent children- in an attempt to lift Mar Roxas' dying Presidential aspiration and bury Duterte's.

ABS-CBN is a huge supporter of Mar Roxas and former President PNoy Panot Aquino which is widely hated by Filipinos.

A takeover of ABS-CBN could prove vital to Villar, chair of the Nacionalista Party, who lost in the 2010 presidential elections and whose wife and children were knee deep in politics – wife Cynthia is a senator, son Mark is public works secretary and daughter Camille is a congresswoman.

Other bilyonaryos such as Ramon S. Ang, Enrique K. Razon, Manuel V. Pangilinan of Salim Group, and Dennis Uy have reportedly taken a whiff at ABS-CBN with the Lopezes under increasing pressure to renew its franchise which would end in March 2020.

Pastor Apollo Quiboloy of Sonshine Media has also set his sights on ABS-CBN but nobody was taking him seriously.

President Rodrigo Duterte declared last week announced that he would make sure ABS-CBN’s franchise would not be extended. “If you are expecting na ma-renew ‘yan, I’m sorry you’re out,” said Duterte.

But pundits believe that it was still possible the franchise would be extended if ABS-CBN took in a new owner. specifically one was in better terms with Duterte like Villar (Duterte declared he would campaign for Villar if he ran for president in 2022).

Biz tycoon Manny Villar to buy ABS-CBN? Biz tycoon Manny Villar to buy ABS-CBN? Reviewed by AsianPolicy.Press on 12:43:00 PM Rating: 5

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