New life for Broadcast City BLURBAL THRUSTS Louie Logarta 04/15/2010

New life for Broadcast City

BLURBAL THRUSTS Louie Logarta 04/15/2010 Under the specter of bankruptcy and their valuable four-hectare real estate property in Diliman Q.C., where sits the once-glamorous Broadcast City complex that was built by the late Marcos crony Roberto Benedicto during the early martial law years, on the verge of being gobbled up by several creditor banks over unpaid debts amounting to some P650 million, top officials of the sequestered RPN 9 and IBC 13 television franchises have opted to enter into an ambitious joint venture agreement (JVA) with some moneyed investors in a bid to arrest the downward trajectory of their floundering companies. It was really a no brainer, according to executives who had sought us out to elaborate on the JVA which is now being criticized as a “midnight deal” of the benighted Arroyo administration meant to generate funds for the campaign expenses of selected candidates of the Lakas-Kampi party.... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/commentary/20100415com6.html

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