division. The channel occupied the former channel space of its predecessor, Studio 23, a young adult-oriented network. On January 24, 2019, ABS-CBN divested its 49% stake in AMCARA to one of the majority shareholders Rodrigo V. Carandang (who is also the chief of TV5 Network engineering). ABS-CBN has also stopped paying blocktime fees to AMCARA, based on their 2019 third-quarter financial report. Carandang was named Chairman, while former GMA Network vice-president Jose Antonio Veloso was named as president. 2020: Franchise renewal and block-time issues On May 5, 2020, ABS-CBN Sports and Action went off-air, together with ABS-CBN, DZMM and MOR due to a cease and desist order from the National Telecommunications Commission (NTC) after its legislative franchise expired on May 4. On June 30, 2020, during the joint hearing made by the House Franchises and Good Government committees, ABS-CBN President and CEO, Carlo Katigbak made their speech, reiterating the block-time arrangement between ABS-CBN and AMCARA, saying that was done under the standard commercial agreement. Later on, Cavite 7th District representative and Senior Deputy Majority Leader, Jesus Crispin Remulla, called the block-time arrangement, "usufruct" and a dummy relationship. 2022–present: Former frequencies assigned to different companies On January 5, 2022, its former UHF frequencies (channel 23 and 43) were assigned by the NTC to Aliw Broadcasting Corporation (for channel 23) and Sonshine Media Network International (for channel 43). See also ABS-CBN Banahaw Broadcasting Corporation Studio 23, ABS-CBN's former UHF TV network ABS-CBN Sports and Action DWAC-TV References 1994 establishments in the Philippines Television channels and stations established in 1996 Mass media companies of the Philippines ABS-CBN Corporation Privately held companies