BIZ BUZZ: TVJ wins again

The indefatigable Tito, Vic and Joey (TVJ) have scored another legal victory after the Court of Appeals (CA) affirmed their ownership of the “Eat Bulaga!” trademark and intellectual property.

In a ruling issued late last year, the CA denied the plea of Television and Production Exponents Inc. (TAPE) and GMA Network to review the decision earlier handed down by the Regional Trial Court, which granted the complaint for unfair competition and copyright infringement filed by Vicente “Tito” Castelo Sotto III, Marvic “Vic” Castelo Sotto and Jose Ma. “Joey” Ramos De Leon, as well as TVJ Productions Inc. head of creatives and vice president Jeny Perea Ferre.

The CA underscored in their decision that “the exclusive rights of scientists, inventors as well as artists and gifted citizens—like respondents Tito, Vic, Joey and Jeny—over their intellectual property and creations must be protected and secured.”

It may be recalled that TVJ had filed a complaint for unfair competition and copyright infringement after TAPE and GMA continued to use the “Eat Bulaga,” “EB” as well as “Eat Bulaga” and “EB” trademarks, including logos, jingles or songs and recorded episodes, segments and portions of the program even after the trio had bitterly parted ways with TAPE.

The Sotto brothers and De Leon, represented by DivinaLaw, welcome the CA decision, promulgated in time for Christmas 2024, believing that it proved yet again what they have known all along, that “Eat Bulaga” is theirs and theirs alone.

“We owe everything to God and to those who have supported us all these years,” former Senate President Tito Sotto tells Biz Buzz. —Tina Arceo-Dumlao

READ: More Biz Buzz

Aboitiz weighs Republic Cement partner’s exit plan

Dublin-based CRH Plc has indicated fresh plans to exit Republic Cement. Aboitiz Group, its local partner, has the right of first refusal but isn’t scrambling to exercise this.

“Our partner is selling,” a top official of Aboitiz Group confirmed to Biz Buzz. It’s all part of CRH’s global restructuring, with the Philippines among the last emerging markets in its divestment plan, the source explained.

But are they keen on buying the stake? “It depends on the price,” the Aboitiz source said.

For now, however, the source said the priority was to make the conglomerate more compact instead of adding more to its plate. Just last year, Aboitiz Equity Ventures Inc. completed its acquisition of Coca-Cola Beverages Philippines Inc.

Unfortunately for CRH, it’s not a seller’s market. As Aboitiz isn’t rushing to buy out CRH, the latter needs to explore other options. —Doris Dumlao-Abadilla