House panel wants mass media, broadcast firms to submit their PDRs | NAMercadoINQ
“Sana bago yung susunod na hearing ay makuha natin at mapag-compare natin kung pare-parehas ba ang laman ng kanilang mga PDRs,” he added.
Sy-Alvarado then ordered the committee’s secretary to “secure copies of all PDRs of all major broadcasting and mass media companies in the country that will apply or otherwise applied then given franchise by this committee.” The order came as the House committee on legislative franchises and the committee on good government and public accountability jointly tackle issues faced by ABS-CBN in its bid for a 25-year franchise.
Critics claim that ABS-CBN’s issuance of PDRs to foreign nationals violated the requirement for mass media companies to have 100 percent Filipino ownership and management.said that PDRs do not dilute 100 percent Filipino ownership of mass media firms, saying PDR holders do not enjoy voting rights and full beneficial ownership.“The issuer of the PDRs retains the voting rights since PDRs are mere instruments of investment, not evidence of corporate ownership,” Lagman said in a statement.
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