Media on media: Facts First, Rappler scrutinize ABS-CBN-Romualdez deal

CHEERS TO Christian Esguerra’s Facts First and Rappler for providing the missing context and digging into the background of the recently announced joint business venture between ABS-CBN and House Speaker Martin Romualdez’s company, Prime Media Holdings. 

What’s the Story? 

ABS-CBN released a statement on May 23 announcing the closure of its hybrid radio-television station TeleRadyo, because of continued financial losses since 2020 the company lost its franchise for its radio and television broadcast channels. 

The agreement provides ABS-CBN with a minority stake of 49 percent and makes Prime Media the majority shareholder with a 51 percent. A follow-up statement from Prime Holdings said the partnership would only cover content production for radio, not for free television. DZMM’s 630 kilohertz AM frequency, which ABS-CBN lost in 2020, will be making a comeback under the venture.  

Reports recalled that in August 2022, ABS-CBN and Manny Pangilinan’s TV5 announced a landmark partnership deal that the firms later decided to cancel after facing political pressure from the same lawmakers who blocked ABS-CBN’s franchise renewal. Media also noted that Romualdez, the first cousin of President Ferdinand Marcos Jr., is among the lawmakers who voted to deny ABS-CBN’s franchise renewal in the 18th Congress. 

What the Reports Got Right

The May 24 Facts First episode examined pressing questions on media ownership, credibility, and independence while Rappler’s May 26 report by Isagani de Castro Jr. supplied described Romualdez’s growing media empire, a development that media had not reported. 

Facts First recounted the TeleRadyo closure as only the latest development in the series of attacks on the critical press that former president Rodrigo Duterte set in motion. Esguerra called into question the credibility of ABS-CBN and TeleRadyo given this partnership with Prime Media. A former ABS-CBN, Esguerra also recalled his personal experience of censorship from the management, driving him to resign. He said Romualdez’s political interests and proximity to the president could similarly lead to censorship. 

De Castro’s report pointed out that the deal significantly expands Romualdez’s media enterprises, making Romualdez a new “major player” in the Philippine broadcast industry. The report discussed how Romualdez’s broadcast portfolio was enhanced by his position in the House of Representatives. 

Why Is this Important?
The media should be follow developments in the industry to expose the political connections that can influence media coverage, watering down its journalistic independence, Aside from showing solidarity with colleagues affected by the TeleRadyo closure, reports should inform the public about how fragile media freedom can be.