The Udenna Corporation has finally released a statement clarifying that they have no plans to acquire ABS-CBN Corporation.
Davao-based businessman Dennis Uy, a former campaign donor of President Rodrigo Duterte, claimed that getting into broadcasting was not part of his firm’s corporate direction.
“Let me be clear once for all and say that we, in UDENNA Corporation, have no intention to acquire ABS-CBN.”
This was in connection with the closure of ABS-CBN last May 5 due to the National Telecommunications Commission’s (NTC) cease-and-dismissal order.
Uy made it clear that they have no plans of venturing into broadcasting and they have great respect for ABS-CBN.
“Being in the business on broadcasting is not part of our corporate direction. Mataas ang respeto ko sa nagawa at patuloy na ginagawa ng ABS-CBN.
“Atin pong lubos na kinikilala ang kanilang sinasagisag para sa kapwa nating Pilipino.”
This issue arose back in 2019 when Uy disclosed that he will be expanding into entertainment, media businesses when he formed Udenna Communications Media and Entertainment Holdings Corp.
“Udenna Communications Media and Entertainment Holdings Corp. is intended to be the parent entity that holds the Udenna Group’s shares in telecommunications, media and entertainment businesses.”
Adding to this was the fact that President Duterte said it would be better to sell off ABS-CBN as its franchise was expiring and he had threatened several times to block its renewl.
“Itong ABS, mag-expire ang contract ninyo. Mag-renew kayo, ewan ko lang kung may mangyari diyan. Kung ako sa inyo ipagbili niyo na ‘yan.”
He said this three months before ABS-CBN’s franchise was to expire.
“Kasi ang mga Pilipino ngayon lang makaganti sa inyong kalokohan. And I will make sure that you will remember this episode of our times forever.”
