Sanchez may lose Bantay Radyo
Cebu Provincial Board (PB) Member Grecilda “Gigi” Sanchez is trying to hold on to Bantay Radyo, amid a pending takeover of the AM network by a cooperative identified with the Garcia family.
In a letter to Jose Luis Sarraga, president of the Cagayan de Oro-based Sarraga Integrated and Management (SIAM) Broadcast Corp., Sanchez wrote that she hopes matters can be resolved amicably between both of them.
Sanchez’s management contract of the network, a business interest she assumed from her late father Vice Gov. Gregorio Sanchez Jr., expires on July 31.
SIAM signed a new contract with Cebu CFI Community Cooperative to manage El Nuevo Bantay Radyo starting August 1.
The cooperative was co-founded and is presently led by retired judge Esperanza Garcia, whose family are political adversaries of Sanchez, who is allied with the Liberal Party.
“I am now asking you to please reconsider your position…I remain hopeful that this matter can be resolved amicably between us,” Sanchez said in her letter dated June 22. Cebu Daily News obtained a copy of the letter.
Sanchez, who is chief executive officer of the AM station, said the other party has not replied until present. She said it came as a shock to her that SIAM chose to contract with CFI in the operation and management of Bantay Radyo.
In this venture, Sanchez represents PAFI-The Sower of Seeds Foundation Corp. (PAFI), which was set up by her late father.
Sanchez said she received an e-mail from Sarraga telling her of conditions for the renewal of the contract, which Sanchez said she “unconditionally and unequivocably” accepted.
On one occasion, both parties met in Cagayan de Oro City and worked out these conditions. Sanchez said they shook hands to signify the “meeting of (their) minds.”
The board member said she believed that both of them already had a contract at that point which prompted her to deposit a certain amount as part of the requirement stipulated in the management agreement.
While acknowledging that SIAM had the freedom to make a business decision, she said “You cannot exercise such freedom by breaching your commitment to us which will result in our prejudice,” Sanchez said.
El Nuevo Bantay Radyo has been under the management of Sanchez since 2002 and has been renewed every five years or so since then.
After both parties agreed on the renewal of the contract, Sanchez said she immediately entered into third-party agreements to purchase radio block time and similar arrangements.
“Needless to say, PAFI will be exposed to liability if these third-party agreements will be breached by reason if PAFI cannot continue to operate the radio stations,” she said.
Sanchez did not elaborate which “third parties” these are.
About 15 employees, mostly technicians, are also in danger of being displaced, she said.
CDN learned that recruitment efforts were ongoing to find new staff and talents.
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