Ferdinand Martin Romualdez, the nephew of former First Lady Imelda Romualdez Marcos, expressed hopes that Lopezes would find interest in moving ABS-CBN shows to his media company.
Romualdez owns the Prime Media Holdings (PRIM) company. It is a Tacloban-based television and radio station under Philippine Collective Media Corp. (PCMC), which recently expanded into a national franchise in 2020.
According to a report on Philippine Stock Exchange, PRIM said that PCMC, “… is looking into entering into a business arrangement or partnership to collaborate with companies that have media content and facilities, but cannot broadcast the same due to lack of franchise, which will enable it to broadcast nationwide.”
Romualdez is apparently hinting at their interest in making his media company ABS-CBN’s new home for their shows.
In July 2020, ABS-CBN’s franchise application got denied by 70 lawmakers forcing the Network to shut down its free TV and radio broadcasting operations.
Romualdez is one of the 70 lawmakers who voted to deny the Network’s franchise.
The Network got shut down due to violations up to this point still unproven.
Despite this, ABS-CBN still has no franchise and Kapamilya shows migrated to streaming online. Other shows were made available via pay-per-view television and cable channel.
Founded in 2008, PCMC currently operates PRTV in Tacloban and 18 radio stations under Romuladez’s initials, Favorite Music Radio or FMR.
PRIM will seek congressional approval for a change of controlling stake in its new subsidiary, PCMC, before the end of 2021, even though it currently has no operations with a capital deficit and negative equity.
