MANILA--A joint congressional committee on Thursday moved to scrutinize Philippine Deposit Receipts or PDRs issued by all local broadcasters for possible violation of the country's foreign ownership r
MANILA--A joint congressional committee on Thursday moved to scrutinize Philippine Deposit Receipts or PDRs issued by all local broadcasters for possible violation of the country's foreign ownership restriction in mass media.
"Ang PDRs ay pagtatago sa tunay na pagmamay-ari ng dayuhan," he said during the resumption of House deliberations on ABS-CBN's application for a new broadcast franchise. ABS-CBN legal counsel Cynthia Del Castillo on Thursday described PDR holders as "passive investors" who do not exercise ownership, voting rights, or control in a company.
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