Udenna On Buying ABS-CBN: “Unfounded And Completely False”

Udenna On Buying ABS-CBN: “Unfounded And Completely False”

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Udenna Corporation on Wednesday denied claims that they are acquiring the remaining frequencies of ABS-CBN after rumors surfaced on social media.

According to Udenna spokesperson Raymond Zorilla, the holding company deems this issue “unfounded” and “completely false” since they do not see venturing into broadcasting as a priority.

“It has come to our attention that there have been certain speculations going around on social media saying that the Udenna Group is associated with a reported broadcasting entity interested in acquiring the broadcast frequencies left behind by ABS-CBN. These are unfounded and completely false,” the statement read.

Founder Dennis Uy is among President Rodrigo Duterte’s most vocal supporters. In 2016, the Davao-based tycoon was noted to have funded his presidential campaign for P30 million.

On May 5, the National Telecommunications Commission issued a Cease and Desist Order (CDO) directing the media giant to shut down operations. Roughly a month later, another CDO was given against ABS-CBN’s subsidiaries—SKY Direct and TV Plus.

To fully defend their case, the network faced a month-long series of hearings at the House of Representatives. On July 10, majority voted against granting the network a fresh 25-year legislative franchise. The rundown stated 80 no, 11 yes, and 3 inhibitions.

Photo Credit: udenna.ph

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