NBN fights for TV rights

The NBN-4/IBC-13 consortium is willing to produce a "replacement Letter of Credit" and make the necessary advance payments to the Philippine Basketball Association to keep its exclusive rights to do the television coverage of the PBA games.

And the present PBA coveror said it might even resort to legal means if the PBA board of governors would decide to nullify its contract with NBN-IBC and pursue its plan to put up its own TV production of the games.

The board is to decide on the issue in a special meeting Monday.

"After all our efforts, of course (we’ll fight for it). How much have we invested? And to me it’s also something personal because my credibility is at stake here," NBN-4 chairperson Mia Concio told The STAR.

"It’s not going to be easy to sever our partnership. They have to study its legal complications thoroughly. The LC (from the ManilaBank) was given in good faith. It’s irrevocable and only the PBA, as the beneficiary, and not ManilaBank can cancel it," she added.

ManilaBank earlier declared the LC submitted by NBN-4 inoperable after the consortium failed to meet a number of requirements. The LC was supposed to give the league the option to draw from the bank should NBN-IBC fail to honor at least the first year of a P670-million, three-year package for the PBA broadcast rights.

But Concio said they’re contesting ManilaBank’s cancellation of the LC because the bank demanded these requirements after the LC had been issued.

"Malabo pa ang requirements. How can we ask the PBA to open an account with them? It’s not within our territory. Why do we give them authority in the disbursement of funds?" said Concio, who has referred the matter to the Office of the Government Corporate Counsel (OGCC).

With the issue still unresolved, Concio expressed disappointment over reports that PBA officials are discussing possible tie-up with another network.

"We take exception to any speculation or statement by PBA insiders regarding the consortium and the LC. It’s affecting the morale of our people. . . 70 people who work like ants. It affects our marketing program. It affects our efforts to sell the PBA," she said.

The NBN-4 chair also bared that they have paid the PBA P36 million for the months of February and March and is preparing a check worth P18 million for April.

Meanwhile, Red Bull moved within a win from qualifying for the Asian Invitationals as it blasted Purefoods, 105-86 in the PBA All-Filipino Cup at the Philsports Arena.