QC gov’t to lose ‘quite a lot’ due to closure of ABS-CBN, says Belmonte
MANILA, Philippines — Quezon City will lose “quite a lot” with the closure of media giant ABS-CBN, Mayor Joy Belmonte admitted on Monday.
ABS-CBN headquarters is located along Mother Ignacia Street in Quezon City.
Asked how much the city government will lose with the closure of ABS-CBN in terms of tax revenues, Belmonte said: “Well, quite a lot.”
“From the perspective of a local chief executive…definitely a mayor’s concern are the people, their employment, the taxes, of course, and the revenue that would be generated from businesses which will go back to the people in the form of services,” the mayor said in an interview over ABS-CBN News Channel.
She said the closure of the country’s biggest broadcast network will affect “the concerns that we are worried about.”
“Quezon City is known as the city of stars, the city of movies, the city of entertainment, and the ABS-CBN foundation and ABS-CBN in general have been part of this branding of the city,” Belmonte said.
“And the foundation, like I mentioned, has been very helpful with many of the advocacies of the city, including that of children’s rights in the Bantay Bata program,” she added.
ABS-CBN was forced to close down after its franchise expired on May 4 and Congress junked its bid for a fresh 25-year franchise.
Without a new franchise, ABS-CBN said it would start the retrenchment of some of its 11,000 employees by the end of August.