On July 10, 2020, the House Committee on Legislative Franchises rejected ABS-CBN's bid for a new 25-year franchise due to several issues, including the dual citizenship of ABS-CBN chairman emeritus Eugenio Lopez III, the possible violation of the constitutional limits on foreign ownership, reported labor and tax
Answers & Comments
Answer:
On July 10, 2020, the House Committee on Legislative Franchises rejected ABS-CBN's bid for a new 25-year franchise due to several issues, including the dual citizenship of ABS-CBN chairman emeritus Eugenio Lopez III, the possible violation of the constitutional limits on foreign ownership, reported labor and tax
Explanation: