MANILA, Jan 29 (Reuters): The Philippines' telecoms regulator has awarded television frequencies held by former top broadcaster ABS-CBN Corp to firms run by two allies of President Rodrigo Duterte, a move critics warned could undermine media freedom.
Shares in ABS-CBN sank 10% on Wednesday (Jan 26), its biggest daily decline in 18 months, after the National Telecommunications Commission (NTC) announced the transfer of ABS-CBN's assets to other media entities.
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