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Brother Mike Velarde And IBC 13 (2nd Update With IBC-13 Management Reaction And New Details)

March 24, 2010

Reliable sources inside Broadcast City are reporting this:

El Shaddai leader Mike Velarde “will eventually get the network for a song, as he has been trying to do for several years now.”

Apart from its value as a radio-television network, IBC-13 sits on 4.1 hectares of prime property in Quezon city, surrounded by commercial and residential developments by Ai, DMCI, Megaworld, etc.

IBC-13 and Radio Philippines Network Ch. 9 were both formerly owned by close Marcos friend Roberto Benedicto and were sequester4ed by the Presidential Commission on Good Government (PCGG) during the EDSA Revolution.

There have been repeated attempts to sell off the properties.

Now they are operated as part of the ‘government media group’ under the Office of the Press Secretary

The Broadcast City Complex is just a stone’s throw away from the c-5 Extension that’s going to link Katipunan Avenu to NLEX.

My Broadcast City moles tells me Mr. Velarde was actually able to get his son-in-law appointed President & CEO of the network until the employees wrote Pres. Arroyo  asking for his replacement and the Ombudsman asking for a probe into several questionable multi-million-peso contracts he entered into.

This is reportedly borne out by the Commission on Audit’s examination of IBC financial records from 2003-2007 .

The El Shaddai ‘Servant Leader is said to have sent IBC management at least two proposals during the last 9 years supposedly for a total airtime lease agreement.

But curiously the proposal provides that Velarde “will guarantee a loan for Intercontinental Broadcasting Corporation with a bank using the Broadcast City property as collateral.

This writer is starting to think this planned acquisition of IBC could be the raison d’etre for Velarde’s impending backdoor entry into Congress as nominee of the Buhay Party List.

Update:

I’ve received a reaction from IBC-13’s Management.

Am witholding the identity of the reactor pending further details:

“Although the ultimate goal, and wish, of IBC management is privatization, it is one that is going to be fair to all of the employees and to the government that owns all shares in the corporation.

It is not going to go “for a song.”

2nd Update:

Yesterday (March 24) IBC signed a joint venture agreement with RII (Regis Romero) Builders for the development of the Broadcast City property.

The negotiations were begun in May of 2009 under the management of Del Rosario.
RII was one of several real property developers that were entertained; but RII was the only one who submitted a solid proposal in the form of an unsolicited bid.

This was subjected to a Swiss challenge in accordance with the NEDA guidelines on joint venture agreements to be entered into by government corporations.

At Midfield’s sources in Broadcast City are reporting further:

The IBC-13 management (under previous President/CEO Bob Del Rosario and current President/CEO Joe Javier) has done much to prevent this from happening.

But as we know that Bro. Mike has influence over many politicians and even government officials. we have been made aware by potential investors and possible buyers that they were “invited” by bro. mike for a talk, and he offered to broker their bid for the network with the powers that be, of course, for a certain consideration.
That is why they backed out.

We are glad that the negotiations were pursued to a satisfactory conclusion, with the OGCC and PCGG providing legal clearances, precisely because, we hope, this is a means of protecting the asset from whoever will try to get at it.
Those with designs on IBC-13 will have to work very, very hard and pay very, very much if they want the live contract nullified.

In a sense, the JV agreement allays our fears in relation to Mr. Velarde.
But who’s to say he won’t be able to pull any strings with whichever administration sits next in Malacanang.
If Velarde wants the network, he can have it, but he should pay the correct price for it.
Through many mediators and through the proposals he sent under the name of Delta Broadcasting System, he has said he’s not interested in paying a fair price for IBC-13.

This corner will continue to follow this developing story.

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