ABS-CBN plans satellite TV in the Philippines

MANILA — According to InterAksyon.com, ABS-CBN is planning to offer a satellite television service for the Philippines through its subsidiary SkyCable.

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In a submission to the National Telecommunications Commission (NTC), Sky Cable Corporation said it plans to spend P252 million for the rollout of direct broadcast satellite (DBS) service across 251 cities and municipalities.

Also known as "direct-to-home," DBS transmits signals to subscribers using satellite.

A unit of ABS-CBN Corporation, Sky Cable’s venture into satellite TV will pit it against three existing players, namely Cignal, Dream Satellite TV and GSat.

InterAksyon.com is the online news portal of TV5, which is a sister-company of Cignal.

ABS-CBN looks to long term expansion

ABS-CBN Corporation a diversified Filipino media conglomerate, has announced that it has raised USD 132 million from its maiden bond in order to finance a five year expansion plans for the country. The company is currently owned and controlled by the powerful Lopez family.

The company will be focusing on digital terrestrial TV as well as ensure its pay TV business, Sky cable is also serviced appropriately. Aldrin Cerrado, chief financial officer of ABS-CBN, said in a statement.“The success of this bond issue is a major achievement for our company and is a culmination of management’s adoption and efficient execution of key business strategies over the last few years,”

BDO Capital president Eduardo Francisco has noted that the industry has welcomed ABS-CBN’s move. He said, “The positive response we received from investors reinforces our view that ABS-CBN has earned a solid credit standing among the domestic investing community.”