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PLDT buys Sky Cable for P6.75B

"The transaction is expected to benefit the existing broadband subscribers."
by Arniel C. Serato
Published Mar 17, 2023
PLDT buying out SKYCable from Lopez family
TelCo giant PLDT will buy 100 percent ownership of SKY Cable Corporation from Lopez family; ABS-CBN to be paid around P4B from the transaction.
PHOTO/S: Courtesy: PLDT / SKYCable website

Nakatakdang bilhin ng PLDT ang Sky Cable Corporation sa halagang P6.75 billion.

Ayon sa disclosure sa Philippine Stock Exchange (PSE) kahapon, March 16, 2023, inanunsiyo ng PLDT na pinasok nila ang "sale and purchase agreement" sa kumpanya ng Lopez family upang bilhin ang 100 percent ng 1.38 billion outstanding capital stocks ng kumpanya.

Ang SKY Cable Corporation ay pagmamay-ari ng Lopez-led firms na Sky Vision Corporation, ABS-CBN Corporation, at Lopez Inc.

Nakasaad dito: "On March 16, 2023, PLDT Inc. (“PLDT”) entered into a Sale and Purchase Agreement with Sky Vision Corporation, ABS-CBN Corporation, and Lopez, Inc. (collectively, the “Sellers”), for the proposed acquisition by PLDT of the broadband business and its related assets of Sky Cable Corporation (“Sky”), through the purchase of 100% of Sky’s total issued and outstanding capital stock, for a total purchase price of PhP6.75 billion."

Bahagi ng disclosure: “The closing of the proposed transaction shall be subject to compliance with certain conditions precedent which include, among others, the termination or cessation of operation by Sky of its pay TV and cable businesses, obtaining all applicable government approvals and clearances, obtaining all required consents and corporate actions, and payment of the purchase price."

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PLDT buying out SKY Cable

Noong 2020, inalok kay PLDT Chairman Manny Pangilinan ang pagbili ng Sky ngunit hindi ito natuloy dahil sa usapin ng monopolya.

Baka umano hindi ito katigan ng Philippine Competition Commission (PCC) dahil may cable at internet company na rin ang PLDT.

Samantala, ayon pa sa disclosure, makabubuti umano ang nasabing transaksiyon sa broadband subscribers na sineserbisyuhan ng PLDT at SKY.

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Nakasaad pa sa kanilang announcement: "The proposed transaction is expected to benefit the existing broadband subscribers of both PLDT and Sky by: (a) strengthening and expanding the coverage of their offerings and services, particularly in remote areas; and (b) upgrading overall customer experience through the combined expertise, resources, and capabilities of PLDT and Sky."

PLDT to buy SKY Cable

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NOOD KA MUNA!

Ayon naman sa hiwalay na disclosure ng ABS-CBN Corporation, makatutulong ang pagbenta ng Sky sa pagpapalawak at pagpapalago ng kanilang content creation business.

Saad dito: "This was a strategic decision resulting from, among other things, the significant capital expenditure requirements of Sky Cable to maintain its competitiveness. The proceeds from the sale of the shares of ABS-CBN and the settlement of Sky Vision's obligations to ABS-CBN will be used by ABS-CBN to settle and fund its retirement obligations. The sale of the company's ownership in Sky will also allow ABS-CBN to focus its resources on content creation."

PLDT buying out SKY Cable

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Tinatayang nasa P4-B ang mapupunta sa ABS-CBN Corporation sa bentahan.

PLDT buying out SKY Cable

Nitong mga nakaraang linggo, lumabas ang mga ulat na ibinibenta na rin daw ng pamilya Lopez ang property nila sa Quezon City kung saan nakatayo ang iconic old headquarters ng ABS-CBN.

Read: Lopez Family to demolish old ABS-CBN building, says report

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Kasunod ito ng pagbasura ng Kongreso sa franchise renewal ng ABS-CBN noong July 2020, sa ilalim ng administrasyon ni dating Pangulong Rodrigo Duterte.

Read: Congress junks ABS-CBN franchise renewal

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TelCo giant PLDT will buy 100 percent ownership of SKY Cable Corporation from Lopez family; ABS-CBN to be paid around P4B from the transaction.
PHOTO/S: Courtesy: PLDT / SKYCable website
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