{"id":69487,"date":"2016-01-26T02:35:47","date_gmt":"2016-01-26T07:35:47","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=69487"},"modified":"2016-01-26T02:35:47","modified_gmt":"2016-01-26T07:35:47","slug":"palace-approves-privatization-of-ibc-13","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2016\/01\/26\/palace-approves-privatization-of-ibc-13\/","title":{"rendered":"Palace approves privatization of IBC-13"},"content":{"rendered":"<figure id=\"attachment_69488\" aria-describedby=\"caption-attachment-69488\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2016\/01\/IBC13LogoCurrent.png\" rel=\"attachment wp-att-69488\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-69488 size-full\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2016\/01\/IBC13LogoCurrent.png\" alt=\"IBC-13 Logo (Internet photo)\" width=\"300\" height=\"238\" \/><\/a><figcaption id=\"caption-attachment-69488\" class=\"wp-caption-text\">IBC-13 Logo (Internet photo)<\/figcaption><\/figure>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">MANILA \u00a0\u2013 Malaca\u00f1ang has granted go signal for the privatization of the Intercontinental Broadcasting Corporation or IBC-13, according to Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Sr. on Tuesday.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">\u201dThe Office of the President has approved the recommendation of the Governance Commission on GOCCs (GCG) for the privatization of the Intercontinental Broadcasting Corporation or IBC-13,\u201d Coloma said in a press statement.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">Coloma said the transaction will be through open competitive bidding, covering the entire shareholdings of Government in the said network.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">As approved, the floor price for the sale is at Php 1.98 billion, which was arrived at based on consultations with the Department of Finance and Department of Budget and Management.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">The recommendations were made by the financial advisory team composed of the Development Bank of the Philippines, the auditing firm KPMG &amp; Co. and the law firm of Romulo Mabanta Buenaventura Sayoc &amp; delos Angeles.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">\u201dFor purposes of the sale, the GCG will also be assisted by representatives from IBC-13 and the PCOO,\u201d Coloma said.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">IBC-13 is an attached agency of the PCOO, pursuant to Executive Order No. 4, s. 2010.<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif;font-size: small\">\u201dThe details of the bidding, including timelines for the privatization, will be issued in due course once the team shall have finalized the necessary documentary requirements, as mandated by law,\u201d Coloma added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA \u00a0\u2013 Malaca\u00f1ang has granted go signal for the privatization of the Intercontinental Broadcasting Corporation or IBC-13, according to Presidential &hellip;<\/p>\n","protected":false},"author":44,"featured_media":69488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,16,95],"tags":[9230],"class_list":["post-69487","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headline","category-news","category-news-ph","tag-uploads","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/69487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=69487"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/69487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/69488"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=69487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=69487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=69487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}