My Google Page Rank

Aquino government set to privatize RPN9, IBC13

PDFPrintE-mail

Presidential Communications Operations Office Secretary Sonny Coloma stressed on Tuesday morning that the Aquino administration is committed to privatize broadcast networks RPN9 and IBC 13 and retain only People’s Television 4 as mandated by law.

In an ambush interview at the sidelines of the signing of the memorandum of cooperative undertaking at Bahay Ugnayan between PCOO and the Ad Foundation chaired by Ruperto Nicdao Jr. of the Makabayang Pilipino campaign, Coloma said the Privatization Council headed by Finance Secretary Cesar Purisima is now working out the sale of the government’s stake in these broadcast networks in keeping with the President’s desire to privatize them. The Council is composed of the Department of Finance, the National Economic and Development Authority, Department of Trade and Industry and the Privatization Management Office (PMO).The privatization program for these networks, he said, will be done through competitive bidding and will be done as soon as possible.

The networks have been sequestered and were put in the auction block since 1986, when the Presidential Commission on Good Government took over. But this has not proceeded as fast and the President wants to dispose of them the soonest time possible, Coloma said citing that government is only mandated to operate one broadcast network, the People’s Television 4. 

He said Solar Entertainment, which owns 34 percent of RPN9, is just going to change the programming of the network into its ETC (Entertainment channel) but will offer this cable program in free TV. Solar will have to honor the collective bargaining agreement reached with the union to the extent the resources will allow. But nobody is being asked to resign, Coloma explained as he added that government, for its part, has been respecting the CBA with the RPN9 union all these years.

Coloma explained that from 1986 to 2009 the government has owned 86 percent with 14 percent held by private stockholders. In March 2009 the government approved, through the PCGG with the concurrence of the Office of the Solicitor General (OSG) and the Office of Government Corporate Counsel (OGCC) the conversion into equity of the advances made by Solar Entertainment. So from 86 percent, less the 34 percent equity of Solar, the government’s stake has been reduced to 52 percent.
Then in July 2010, the Supreme Court decided with finality and with a writ of execution to recognize the shareholdings of Far East Managers and Investors Inc. (FEMI), an organization affiliated with the estate of the late Ambassador Roberto S. Benedicto. The SC awarded to FEMI 22 percent. So 52 percent (equity left with the government) less 22 percent of FEMI, what remains with government is 30 percent.

“We can look at the privatization in three phases: Phase 1 is the advances turned equity of Solar; Phase 2 is the awarding of 22 percent by SC to FEM and the Phase 3 involves the remaining government share will be privatized through the Privatization Council headed by Purisima,” Coloma said.
Coloma said the government is now drawing up the terms of reference for the privatization program, which is long overdue.

After Channel 9 we will work on the privatization of Intercontinental Broadcasting Corp.’s Channel 13, which is still wholly owned by the government.

Coloma said a significant asset of Channel 13 that in effect has been privatized because the network entered into a joint venture agreement with Prime Realty, associated with the R-II Builders Group of Reghis Romero Jr.

Under the agreement signed in March 2010, 3.5 hectares of Broadcast City is to be developed into a real estate project and the entire project is valued at P780 million, of which P280 million has been paid out in cash to satisfy the claims of the employees in terms of the contractual benefits owed to them by the network, in accordance with the CBA.

Since this is a joint venture agreement for a real estate development, the remaining .5 hectares will be used for the broadcast facilities of IBC 13.

“But we will privatize the broadcast facility so whoever buys the network will operate the facility,” Coloma said.The value of IBC 13 will be based on the facility plus the .5 hectares of its current site. But the final value will be made by the Privatization Council of Purisima. (PCOO/PIA9-BST)




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

One gun-for-hire dead in shootout with cops

24 Nov 2017 Hits:77 Be the first to comment!

An alleged member of a gun-for-hire group was killed in a shootout with personnel of the Regional Public Safety Battalion 9 (RPSB9) in Barangay Balok, Sindangan Municipality, Zamboanga del Norte (ZDN) Province on Tuesday. Police Regional Office 9 (RPO9) spokesperson Chief Insp. Helen Galvez identified the fatality as Rene Carcillas, 49, married, of Barangay Diquis, Manukan Municipality, ZDN. The suspect was rushed to Sindagan Municipal Hospital for medical treatment but the attending physician declared him dead on arrival. Galvez told Zamboanga Today that a checkpoint was established in the said area on Tuesday night by combined personnel of the RPSB9 and Sindangan Municipal Police Station. The authorities flagged down a color black and white Honda XRM motorcycle approaching the checkpoint but the back-rider suddenly [...] Read more

Prev Next Page:

FERNDALE SCHOOL 2017 SBP PASSERELLE MINDANAO CHAMPION

24 Nov 2017 Hits:41 Be the first to comment!

Este el istoria del Ferndale International School locao na Veterans Avenue, Ciudad de Zamboanga. El presidente del escuela si Dr. Anicia A. Alvarez y el official ta ayuda mira canamon [...] Read more


BAP TOURNAMENT AND OFFICIATING LEAGUE

23 Nov 2017 Hits:62 Be the first to comment!

Schedule games for Nov. 26,2017 (Sun) Golden Boys Gym 8:30 am  Bonchon -vs-  J Vince 10:00 am  Jocsie     -vs-   RRJ RESULT of the games played last Nov.19,2017(Sun) WEST SCC GYM.. SAN JOSE [...] Read more


Four houses destroyed by fire

23 Nov 2017 Hits:61 Be the first to comment!

Four houses made-of-light materials were totally razed to the ground in Royal Lane Drive, Barangay Tugbungan. Zamboanga City Central Fire Station (ZCCFS), District Fire Marshall Clint Cha identified the owners of [...] Read more


WMSU, WMBA host National Training on Bio-Threat Reduction for LGUs

22 Nov 2017 Hits:76 Be the first to comment!

The Western Mindanao State University (WMSU), through the Western Mindanao Biosafety and Biosecurity Association (WMBA), and in partnership with the United States Department of Defense- Defense Threat Reduction Agency, successfully [...] Read more


Fire Chief prepares for fire

22 Nov 2017 Hits:78 Be the first to comment!

In preparation for the coming Yuletide Season, District Fire Marshal, Chief Insp. Clint Cha has called on all fire sub-stations to prepare and ready their various equipment and firetrucks. Cha said [...] Read more


DOH cites importance EO 28

22 Nov 2017 Hits:64 Be the first to comment!

The Department of Health, Regional Office 9 yesterday explained the objective and importance of Executive Order Number 28 of President Rodrigo Duterte on June 27, 2017, providing for the regulation [...] Read more


Wesmincom Chief says ASG strenght significantly dropped

22 Nov 2017 Hits:69 Be the first to comment!

Lt. Gen. Carlito Galvez, Western Mindanao Command Chief, yesterday said that the strength of the Abu Sayyaf Group in Sulu, Basilan and Tawi Tawi has significantly decreased. Galvez said this is [...] Read more


D' CUSTODIAN BALLER … NELLIE

22 Nov 2017 Hits:63 Be the first to comment!

Este si Marnelli Candido Berba, su palayao “Nellie”, 33 años de edad, 5’0” el altor, residente de Talon Talon, Ciudad de Zamboanga. Su mayores si Ernesto N. Berba y Maridol [...] Read more


380 aspiring fire officers take qualifying exams

21 Nov 2017 Hits:79 Be the first to comment!

More or less 380 applicants took the qualifying exam conducted by the Bureau of Fire Protection (BFP-IX) at the Zamboanga State College of Marine Sciences and Technology, yesterday. District Fire Marshal, [...] Read more


Cops, probers undergo training on drug cases

21 Nov 2017 Hits:68 Be the first to comment!

Members of the local police, investigators and other law enforcement agencies undergo a two-day enhancement training on handling drug cases in a bid to ensure successful implementation of the war [...] Read more


Submarine cable landing stations to speed-up internet connectivity – DOST

21 Nov 2017 Hits:115 Be the first to comment!

The slow internet connection in the country may soon be a thing of the past. This was according to the Department of Science and Technology (DOST) as it welcomed the [...] Read more


LADY PANTHER WRESTLER… ERICA

20 Nov 2017 Hits:79 Be the first to comment!

Este si Erica Bataclan Martinez, su palayao “Ecang”, 17 años , 5’3” el altor,    Su mayores si Oscar B. Martinez y Lariza A. Bataclan Martinez, su hermano y hermana [...] Read more


FOOTBALL CHIEF… TENG

19 Nov 2017 Hits:71 Be the first to comment!

Este si VICENTE EDUARDO S. TORRES, ta llama conele “Teng/Pardz/Boboy”, 62 años de edad , casao y su esposa si Esther Facultad Torres Y diila anak si Pompeyo F. Torres [...] Read more


AboitizPower sustains strong foothold in hydropower business

18 Nov 2017 Hits:137 Be the first to comment!

On the back of a strong demand for renewable energy (RE), AboitizPower continues to ramp up its portfolio of generation facilities across the Philippines. AboitizPower's subsidiary, SN AboitizPower, has completed the [...] Read more


ZAMBOANGA FOOTBALL - ROLL D BALL

18 Nov 2017 Hits:82 Be the first to comment!

Del Nov. 12, 2017 Domingo el Segundo semana de Season long Zamboanga Football league. El primer juego tan feature cun Resto del Mundo contra  Zamboanga United . Ta pricura man [...] Read more


Police shift war on drugs to anti-gun-for-hire drive

17 Nov 2017 Hits:96 Be the first to comment!

Police regional director and vice chair of the Regional Peace and Order Council (RPOC) for Western Mindanao Chief Supt. Billy Beltran announced recently that all police operatives previously assigned in [...] Read more


Military launch rescue ops for latest victims of ASG

17 Nov 2017 Hits:132 Be the first to comment!

Government troops are now conducting operations to rescue the six people, including two children, who have been abducted by about 15 suspected Abu Sayyaf bandits in Patikul, Sulu, according to [...] Read more


OCENR sets city-wide clean up on Nov 25

17 Nov 2017 Hits:77 Be the first to comment!

The City Government through the Office of the City Environment and Natural Resources (OCENR) will head a city-wide clean up drive on November 25. “We are going to have a city-wide [...] Read more