At the press conference of her program ‘Usapang Real Life’, broadcast journalist Luchi Cruz-Valdez reacted to the shutdown of ABS-CBN.
Luchi said that ABS-CBN’s shutdown was shocking for her.
“It was sad that ABS-CBN had to shut down. I was a part of it as you know. It was shocking to me. But it’s already here,” said Luchi.
Despite her reaction, she hopes that TV5 can fill the void left by ABS-CBN.
“As a TV5 officer, I have to say naturally, it’s an opportunity for us. We are also looking to strengthening our position now that there’s a void that we can fill. We may not be able to fill it fully in the near term. Hopefully, as we go long,” Luchi added.
Luchi noted that although it has been tough, she remains hopeful.
“There’s new hope, it’s been tough, but I am hopeful.”
Luchi was a part of ABS-CBN from 1986 to 1987 when she was hired by Cheche Lazaro, and 2002 to 2008 as the vice president for news production and current affairs.
After the Congress denied their 25-year franchise, ABS-CBN suffered a 3.93 billion loss in revenue from Free TV advertising. It resulted in retrenchments of employees, and closure of multiple units in the network. ABS-CBN has pushed all of its content to digital platforms like YouTube and Facebook.
The network is also looking into blocktimer agreements with TV5 and GMA 7 to show their programs via Free TV. ABS-CBN’s talent arm Star Magic is also negotiating for projects for its artists with rival networks.
