May 05, 2013

ABS-CBN investing heavily on digital TV

ABS-CBN Corp. is investing heavily on infrastructure and test broadcast activities to ensure a smooth transition to digital terrestrial television (DTV) and cable TV to bring clear TV viewing to millions of Filipino households. Subsidiary SkyCable has tied up with Singapore Technologies Telemedia which infused P3.9 B of fresh capital to the company.

With the acquisition of Destiny Cable, the pay TV platform increased its number of subscribers by 40% to 700,0000 from 500,000. Furthermore, ABS-CBN has removed the preemptive rights of shareholders as it plans to raise funds for its capital expenditures amounting to P5 B this year.