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NBN-4 takeover blamed for PBA financial woes.
(From Philippine Daily Inquirer)
Byline: June Navarro
THERE was a far superior offer but it was shot down even before it got off the ground.
Phillip Ella Juico, a former member of the IBC-13 board, yesterday said the PBA's financial problems with NBN-4 could have been avoided if only an initial offer by IBC was considered.
Juico said IBC had initially tapped Solar Sports as its partner before NBN-4 stepped in and eventually controlled the PBA's television coverage.
"It was a better offer. Solar Sports promised advanced payment and a corresponding letter of credit from a credible bank to pay the rest of the arrears," Juico told the Inquirer.
Juico said the deal was supposed to be a co-production between the two television organizations with Solar Sports tasked to market the PBA and IBC to provide the airtime.
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