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ABS-CBN Corp.’s thousands of employees and millions of fans are not the only ones hurting from the shocking closure of the media giant. ABS-CBN Corp .’s thousands of employees and millions of fans are not the only ones hurting from the shocking closure of the media giant. COL Financial said ABS-CBN’s big-time creditors were likely to suffer the biggest blow from the  National Telecommunications Commission ’s decision to yank the media firm off the air on May 5, a day after its franchise expired. “If ABS-CBN’s free-to-air TV and radio channels are not allowed to resume operations on the next few months, it won’t be able to pay off most of its P26.5 billion worth of long-term debts due to various banks and bond holders with around P2.4 billion due next year,” said COL. COL said ABS-CBN can survive a few months without cash flow with over P20 billion in cash and short-term investments to cover over P16 billion in debts due this year. But COL said an extended time off the a

GMA Network Inc. is clueless on why its stock rocketed a day after rival ABS-CBN Corp, was taken off the air by the National Telecommunications Commission. “GMA is not ware of any undisclosed information that could have triggered the unusual price movement of GMA shares,” said GMA first vice president Ayahl Ari Augusto P. Chio in a letter to the Capital Markets Integrity Corp. Shares of GMA – owned by bilyonaryos Felipe L. Gozon, Gilberto Duavit, Jr., and Joel Marcelo Jimenez – soared by 17 percent to P5.90 on May 6 from P4.77 on May 5. Trading of ABS-CBN shares has been suspended since May 6, a day after the NTC issued a cease and desist order against the Lopez-owned media giant after its franchise expired on May 4. ABS-CBN has stopped airing on Channels 2 and 17 and radio frequency DZMM 630.

Third telco DITO is "on track" to meet its commitments despite the 8-week lockdown of millions in Luzon to curb the coronavirus pandemic, the Department of Information and Communications Technology Undersecretary Eliseo Rio said. DITO continues building towers in different parts of Luzon. "Ibig sabihin n'yan, on track sila even with this emergency situation that we're having now," he told DZMM. (That means they're on track even with this emergency situation that we're having now.) DITO can continue building towers during the lockdown because telecos are considered essential service providers, he said. The consortium should start commercial operations by March 2021, based on its license to operate.