#abs-cbn congress

6732 which seeks to give ABS-CBN a provisional franchise to operate until October 2020. "Through this measure, we hope to strike a balance between the immediate needs of the people amid this crisis and the duty of Congress to ensure accountability to our present laws," read the bill's explanatory note. In an announcement today, ABS-CBN released a statement that its Sky Cable sale to PLDT will "no longer push through". ABS-CBN has just announced that one of its signature news channels, TeleRadyo, will be ceasing operations effective June 30, 2023. In a press statement released today, the media giant said that ABS-CBN could no longer sustain the channel's operations given that TeleRadyo had been incurring financial losses since 2020. "The company is deeply saddened by this closure and having to part ways with the many passionate and committed people who have made Teleradyo an important source of news and information for many Filipinos," says ABS-CBN. While TeleRadyo will cease operations, ABS-CBN shared that it is entering a joint venture with Prime Media Holdings Inc. Under the joint venture, ABS-CBN will own a minority stake while Prime Media Inc. Read more in our articles including "Bill filed seeking provisional franchise for ABS-CBN until October" and "ABS-CBN cancels Sky Cable sale to PLDT".