Tito Sotto guested on the latest episode of "Updated with Nelson Canlas" and clarified several things about the ongoing controversy rocking the longest noontime show.
According to Sotto, he decided to give the interview "because all of a sudden one member of the corporation, an officer of the corporation, was interviewed and was not accurate."
"As a matter of fact, there were false statements that were made," he added. "So we would rather, and with the consent of Vic and Joey, that we would rather explain and elaborate or perhaps give light to what is true on some of these statements that were made. Iyon ang dahilan."
Sotto first shared the history of "Eat Bulaga" — how Product Specialist Inc. was the originally producer and soon lost money, how for one year the show ran on "blood, sweat, and tears" of TVJ and Tony Tuviera, about how TAPE Inc. finally came on board in 1981.
He also shared the financial rhythm the show came to know: How January to March were lean months, how the -Ber months were like "piyesta."
"It's been that way. Its ups and downs, nakaka-recover."
"Kaya we were always able to carry on. Kaya going back to one of your questions. Anong nangyari, bakit bigla? Ang sabi sa 'min, nalulugi raw. Kailangan daw, baguhin ang nagpapatakbo. At kailangan daw i-reinvent ang Eat Bulaga, at mayroon daw mga portion na bored sila," he continued.
Sotto explained they had a sit-down meeting to address this and were in fact able to find a way forward.
"Kaya okay na except lately, 'ika nga, hindi na let sleeping dogs lie. Lately, biglang a member of the board tells media something else," he said.
According to Sotto, TAPE owed Vic and Joey money. "Ang laki ng utang kay Vic at kay Joey. Mahigit tig-30 million pesos ang utang sa kanila, for 2022 alone."
He broke down their finances, saying "SEC documents show that TAPE had a 213 Million net profit for 2021. Paano kang nalugi?"
He points out 2022 as an election year. "Ang political ads, nadagdag doon sa regular, at lumuwag na ang COVID. So iyong expect better than 2023 net profit na iyon ang ni-report mo."
"But then again, we were informed that a little over 400 million pesos of political ads that were placed in Eat Bulaga, vanished," he revealed.
When asked where it went, Sotto said "you better ask TAPE."
"I am disappointed, at the very least. I am disappointed at what's happening. Lahat-lahat na," he said.
Last week, Dapitan Mayor Bullet Jalosjos, chief finance officer of Television and Production Exponent (TAPE) Inc., which produces "Eat Bulaga," appeared on "Fast Talk clarified several rumors surrounding the long-standing noontime show.
"I want to assure everyone that we are financially stable. The company is okay. We're doing good. We can pay our talents. We can pay GMA so wala po tayong talagang problema when it comes to money," Jalosjos said on "Fast Talk with Boy Abunda."
Jalosjos also said the rumors about Vic Sotto being owed P2 billion, and not having been been paid in nearly a year, is all fake news.
"That's why maganda po talaga kung sana pwede rin makausap all the talents, maimbita natin sa show din to assure everyone that we are in good relations with the company and with the board, and tuloy-tuloy ang ligaya kay 'Eat Bulaga,'" he said.
"Updated with Nelson Canlas" has reached out to Bullet Jalosjos and is waiting for a response. — LA, GMA Integrated News