[This is raw]
70 Congressmen killed the franchise of ABS-CBN, the Philippines' largest network, because of their own personal vendetta against ABS-CBN. They put their personal interest first, ahead of the interest of the Filipino people, their constituents.
Instead of helping each and every Filipino and business to survive the crisis brought by COVID-19, the Congressmen chose to put an end to ABS-CBN's franchise at the expense of a lot of employees and other businesses.
Effects:
- 11,000 people lost their jobs.
- Advertising companies lost their clients after losing half of the audience in TV market. See https://business.inquirer.net/296787/ad-companies-feel-impact-of-network-shutdown
- Investors lost confidence in the Philippines, seeing how the government can adversely affect the operations of businesses without regard to due process of law. See https://www.bworldonline.com/forced-closure-of-abs-cbn-may-hurt-investor-confidence/
- Domino Effect on other industries rendering services to ABS-CBN. See
- Research firm lost biggest client, ABS-CBN. See https://business.inquirer.net/306434/abs-cbn-shutdown-aftermath-research-firm-ad-agencies-also-cutting-jobs
- Less exposure of sports events. See https://cnnphilippines.com/sports/2020/7/17/ABS-CBN-Sports-retrenchment.html?fbclid=IwAR3Geb4kl6m-OyTIk8aFzmXM0V_Uj63X3xdezK-XtQLdc5XdzWfPUarGIWA
Given the adverse effects of the ABS-CBN shutdown to a lot of people, I can't help but think if the 70 Congressmen have conscience.
This is indeed a very very sad episode in the history of the Philippines. 😞😢😟
2 comments:
How about its effect on the personal business and entertainment of its viewers? ��
those were obvious effects. just want to express that the shutdown also has effects on advertising and investors' confidence. People seem to overlook that.
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