Dennis Uy’s Udenna Group denies interest in frequencies left by ABS-CBN

Davao-based businessman Dennis Uy’s conglomerate Udenna Group is dismissing speculations circulating on social media that it is related to a certain broadcast firm which is allegedly taking over the frequencies left by ABS-CBN Corporation.

“It has come to our attention that there have been certain speculations going around on social media saying that the Udenna Group is associated with a reported broadcasting entity interested in acquiring the broadcast frequencies left behind by ABS-CBN,” Udenna Group spokesperson Raymond Zorilla said in a statement.

“These are unfounded and completely false,” Zorilla added.

Rumors have been circulating on social media that a certain Dragon Broadcasting Corporation, allegedly owned by Uy, will be given the frequencies of ABS-CBN.

The House panel on legislative franchises adopted the Technical Working Group’s (TWG) Committee Resolution recommending the denial of the network's franchise application through 70 yes votes, 11 no votes, two inhibitions and one abstention.

ABS-CBN went off air on May 5 after the National Telecommunications Commission issued a cease and desist against the network for lack of franchise.

“We in Udenna have been consistent in stating that our priorities do not include broadcasting,” Zorilla said.

Uy, a top contributor to President Rodrigo Duterte’s campaign kitty during the 2016 elections, earlier issued a statement that he is not interested in buying ABS-CBN and that he has no plans to go into broadcasting. 

Udenna currently has interests in oil, gas and retail; shipping and logistics; education; food; gaming and tourism; property development and management; and infrastructure development.

Udenna Communications Media and Entertainment Holdings Corporation was supposed to be the parent company for the group's shares in Dito Telecommunity Corporation, but instead sold the shares to ISM Communications, which was then renamed Dito CME Holdings.

Earlier this year, Udenna announced Donald Lim— who previously served as the chief digital officer of ABS-CBN—as chief innovation officer of the group and as chief operating officer of DITO CME starting February 1, 2020. — BM, GMA News