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

DENR-EMB 9 conducts SWM plan finalization of ZamPen LGUs

14 Nov 2018 Hits:74 Be the first to comment!

The Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) Region IX is conducting a 10-year Solid Waste Management (SWM) plan update and finalization of 33 local government units (LGUs) from Zamboanga Peninsula from November 13-16, 2018 at Grand Astoria Hotel, this city. Out of the total 72 LGUs in ZamPen, 16 have gained EMB's approval, whereas the 33 participating LGUs belong to the first batch currently undergoing evaluation of the bureau and awaiting endorsement to the National Solid Waste Management Commission. This is in accordance to Republic Act 2003, otherwise known as the "Ecological Solid Waste Management Act of 2000" which mandates the LGUs to "prepare its respective 10-year solid waste management plans consistent with the national solid waste management framework." [...] Read more

Prev Next Page:

Man accused of child abuse, arrested

13 Nov 2018 Hits:139 Be the first to comment!

Two teenagers filed a complaint for child abuse against a 55-year-old man at Police Station 7 last Sunday. Ellyn, married, a resident of Barangay Pasonanca, Zamboanga City, averred to the police [...] Read more


Brgy Chair nabs pedicab driver carrying shabu

13 Nov 2018 Hits:86 Be the first to comment!

A delivery boy was arrested in a buy-bust operation conducted by elements of Police Station 4 led by Chief Insp. Hazel Fernandez at Barangay Baliwasan, Zamboanga City  on Sunday. Police identified [...] Read more


Navforwem honors fleet-marine troops for rescue of KV Duterte

13 Nov 2018 Hits:158 Be the first to comment!

The Naval Forces Western Mindanao (Navforwem) has honored sailors, marines, Fleet-Marine personnel and navies for the successful rescue of kidnapped victim (KV) Jose Duterte and exceptional feats in the accomplishment [...] Read more


Police searching for armed man for mauling

12 Nov 2018 Hits:110 Be the first to comment!

A resident of Barangay Mampang, Zamboanga City, is now being hunted by personnel of Police Station 6 for mauling and totting his gun at another person on Sunday. Police report shows [...] Read more


Team Climaco condemns misinformation, fake news

09 Nov 2018 Hits:309 Be the first to comment!

Members of the Team Climaco have strongly criticized and condemned misinformation drive allegedly hatched by their political foes and propagandists, who are desperate to destroy the many and outstanding accomplishments [...] Read more


Man hacked by father-in-law

09 Nov 2018 Hits:127 Be the first to comment!

A man was hacked and wounded by his father-in-law at Sibiktol Drive, Barangay Arena Blanco, Zamboanga City, on Wednesday. The victim was identified as Jarrin Jalmaani y Gadong, married and a [...] Read more


More Filipinos to be engaged in HIV-AIDS awareness drive

08 Nov 2018 Hits:171 Be the first to comment!

The right information on HIV-AIDS will curb the spread of this disease. But putting information out there isn’t enough, a senior government official believes. There has to be constant engagement [...] Read more


CHO: Fear of Dengvaxia prevents children from getting vaccines

07 Nov 2018 Hits:241 Be the first to comment!

Assistant City Health Officer Dr. Kibtiya Uddin reported that the fear of Dengvaxia vaccine has prevented children from getting other types of vaccines during City Hall's weekly press conference on [...] Read more


Army officer, 3 soldiers injured in clash with Abu Sayyaf in Sulu

07 Nov 2018 Hits:281 Be the first to comment!

An Army officer and three more soldiers were wounded in an encounter with Abu Sayyaf terrorists in Sulu province on Monday afternoon. Lt. Col. Gerry Besana,  spokesperson of Western Mindanao Command [...] Read more


Beng distributes relief goods to Triplet fire victims

18 Oct 2018 Hits:236 Be the first to comment!

Mayor Beng Climaco on Wednesday afternoon spearheaded the distribution of relief goods to families displaced by the early dawn fire in Lemon Drive, Triplet, Barangay Canelar. Mayor Climaco, assisted by personnel [...] Read more


DTI reports slight hike in prices of basic goods

18 Oct 2018 Hits:211 Be the first to comment!

Following its continuing monitoring of prices of all consumable goods in the local markets, the Department of Trade and Industry (DTI) has reported a slight increase in the prices of [...] Read more


OCENR preps SWM in barangays, basura run

18 Oct 2018 Hits:197 Be the first to comment!

The Office of the City Environment and Natural Resources (OCENR) is working to strengthen the capacities of local barangays in line with sanitation, particularly solid waste management. Public Services Officer IV [...] Read more


Mayor Beng files candidacy, vows to continue pro-poor programs

17 Oct 2018 Hits:262 Be the first to comment!

In an expected sea of supporters to join her today, popular Mayor Maria Isabelle “Beng” Climaco is scheduled to file her certificate of candidacy for re-election this morning at the [...] Read more


Team Colorao to file COC today

17 Oct 2018 Hits:199 Be the first to comment!

The “Team Colorao” alliance will be filing their official Certificates of Candidacy (COC) early morning today, October 17, 2018. The powerhouse four party alliance will be led by party standard bearer, [...] Read more


MLFSI wins 3rd runner up in Parade of Lights competition 2018

17 Oct 2018 Hits:185 Be the first to comment!

The MLhuillier Financial Services Inc. (MLFSI) won 3rd runner up in the recently-conducted Parade of Lights competition during the Zamboanga Hermosa Festival. Bagging the cash prize of P60,000, MLFSI emerged as [...] Read more


5.1 magnitude earthquake hits Zamboanga del Norte

17 Oct 2018 Hits:156 Be the first to comment!

A 5.1 magnitude earthquake rocked Zamboanga del Norte on Tuesday, according to the Philippine Institute of Volcanology and Seismology (Phivolcs). There was no immediate report of any damage or casualty, officials [...] Read more


Hermosa job fair set Oct 19-20 at KCC

16 Oct 2018 Hits:199 Be the first to comment!

The City’s Public Employment Service Office (PESO) under the City Social Welfare and Development Office (CSWDO) is finalizing preparations for the conduct of the Zamboanga Hermosa Job Fair set Oct. [...] Read more


City preps for Food Summit

16 Oct 2018 Hits:205 Be the first to comment!

The city government, through the Office of the City Agriculturist and the Office of the City Veterinarian, is readying a learning summit for food producers and stakeholders in line with [...] Read more