THEY MISREAD THE PEOPLE

By Philip M. Lustre Jr.

DEEPLY mired in their hubris, the ruling elite, disparagingly called “Inferior Davao,” could have misread the temper of times, as they have mishandled the franchise termination of ABS-CBN and ordered the closure of the broadcast giant.

Salivating and careless to  show real intention, Inferior Davao  led by the impulsive but unstable Rodrigo Duterte has shown inordinate interest to acquire the broadcast giant, resorting to arm twisting tactics to bully the Lopez family, its majority owner, and force them to sell the ABS-CBN preferably to Dennis Uy, his crony.

“What Dennis wants, Dennis gets” seems to be the battlecry of the Davao City-crony, who leads the business arm of Inferior Davao. His rise from obscurity and tantalizing acquisition binge to become Duterte’s main business crony has baffled the business community, making him a topic in coffee shop talks.

But the business empire he leads seems to be standing on soft ground, making its vulnerable to a sudden collapse. Analysts have pointed to his firms’ abnormally high debt-equity ratio. A failure in the debt repayment of one of his firms could trigger a domino effect on the other firms, raising the specter of a collapse.

Duterte’s attempts to shame the Lopezes over the television three months ago did not lead to negotiations for sellout of their crown jewel to Dennis Uy or any other crony. The Lopezes have clamped down. 

Patriarch Oscar Lopez, a second generation Lopez, and nephew Eugenio Lopez III, nicknamed Gabby, have been silent on the fate of what could be regarded the biggest broadcast network in the country.

No, ABS-CBN is not for sale. The Lopezes have stuck to their guns; they would not negotiate to any interested party. The Lopezes has chosen to park the broadcast giant like an unused car, although they have kept its digital platform for use to stay relevant. 

The Lopezes have taken the stance that they would take their chances in 2022, when a mentally stable president replaces Duterte, and reopens only after they get a new franchise.

What Duterte and the entire Inferior Davao crew that includes the likes of Bong Go, Jose Calida, Bato dela Rosa, and other flunkeys and acolytes do not know is that ABS-CBN is far beyond the ownership of Lopez family and other listed stockholders.

The ferocity of many opposing netizens indicates the ownership issue is not the single issue that has to be acknowledged by Inferior Davao. In fact, their reaction shows it is the Filipino people, who now own ABS-CBN. It’s their institution. It’s where the people get informed and entertained.

Moreover, the 6-8 pm daily news program of the broadcast giant could be regarded a sort of daily national meeting where the Filipino people got their briefing about developments in the Philippines and other parts of the world. The succeeding telenovelas like “Ang Probinsyano” is their main entertainment stuff.

Closing ABS-CBN and taking them away is tantamount to depriving them of information and entertainment they need for daily existence. True to its name and identity, Inferior Davao does not understand the cultural terrains of the entire Filipino people, particularly those in Luzon. They have a limited, albeit parochial view, of the entire situation.   

Closing the broadcast giant on basis of the May 4, 2020 termination of its franchise and despite its track record of an obedient corporate citizen (its paid its taxes and did not violate any law) could be regarded a direct affront to the Filipino people. Duterte and his Inferior Davao would pay dearly for what they have done.