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Metro Manila (CNN Philippines, January 21) ABS-CBN Corp. shares have started regaining momentum following talks on the revival of its legislative franchise and its efforts to seek dominance anew in the Philippine entertainment industry, analysts said Thursday.
The media giant s shares have already made much progress, Philstocks Financial Inc. senior research analyst Japhet Tantiangco told CNN Philippines despite the fact that its closing price on Thursday remained weaker before it went off the air in May 2020.
Shares in ABS-CBN finished at ₱14.08 apiece on Thursday, still below its May 5, 2020 price of ₱17.50. Its franchise, which should allow it to operate its broadcast and radio businesses, expired on May 4.