(Bloomberg) -- The Philippines' House of Representatives has initially approved a temporary franchise for shuttered broadcaster ABS-CBN Corp. to air through October while lawmakers debate on renewing its 25-year permit.
“Today, to end all conflicts and discussions, we will begin the process of turning on your transmitter by giving you a franchise until October 31, 2020,” House Speaker Alan Peter Cayetano said in a speech at the bill's committee approval on Wednesday. “We will not pass the buck. We will have hearings and finish this.”
The bill needs to be approved by the Senate and President Rodrigo Duterte, who first made his threat to block ABS-CBN's franchise renewal in April 2017 for alleged bias. Authors of the bill said a provisional franchise will allow the House and the Senate to hear the issues raised on the broadcaster.
Philippine Broadcaster Duterte Threatened Closed by Government
ABS-CBN said in a statement Wednesday it welcomes the provisional permit and will participate in the process of renewing its franchise. The network, in a petition filed last week with the Supreme Court to halt the shut order, said it's losing 35 million pesos each day it's off the air, constraining it ability to service debts.
ABS-CBN was ordered shut by the telecommunications commission on May 5, a day after its franchise expired. Trading on shares of ABS-CBN remains suspended since a halt by the bourse on May 6.
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