| Type | Public |
|---|---|
| Industry | Communications Services |
| Founded | Manila, Philippines (1928) |
| Headquarters | Makati City, Philippines |
| Key people | Manuel V. Pangilinan, Chairman Napoleon L. Nazareno, President and CEO |
| Products | Cellular Telephony Fixed-Line Telephony Information Technology Services Satellite Communications Broadcasting Electricity distribution |
| Revenue | US$ 5.5 billion (Q2 2011) [1] |
| Net income | US$ 934 million (19%) (YE Q1 2010)[2] |
| Total assets | US$ 19 billion |
| Employees | 18,926 |
| Website | PLDT Corporate Website |
The Philippine Long Distance Telephone Company (PSE: TEL, NYSE: PHI) commonly known as PLDT, is the largest telecommunications company in the Philippines. PLDT is also the largest company in the Philippines, ranked 1138th in the April 2009 update, and 1080th in the April 2010 update, of Forbes' Global 2000 list. As of 2011 it is ranked the 1297th company in the world.[3][4]
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During the time of Spanish colonization of the Philippines, the Spaniards organized a telephone company that opened in 1890. PLDT was established on November 28, 1928, by an Act of the Philippine Legislature and approved by then-Governor-General Henry L. Stimson by means of a merger of four telephone companies under common US ownership. Known as Act 3436, the bill granted PLDT a 50-year charter and the right to establish a Philippine telephone network linking major points nationwide. However, PLDT had to meet a 40-day deadline to start implementing the network, which would be implemented over a period of one to four years.
By the 1930s, PLDT had an expansive fixed-line network and for the first time linked the Philippines to the outside world via radiotelephone services connecting the Philippines to the United States and other parts of the world.
Telephone service in the Philippines was interrupted due to World War II. At the end of the war, the Philippines' communications infrastructure was in ruin. U.S. military authorities eventually handed over the remains of the communications infrastructure to PLDT in 1947, and with the help of massive U.S. aid to the Philippines during the 1940s and 1950s, PLDT recovered so quickly that its telephone subscribers outpaced that of pre-war levels by 1953.
On December 20, 1967, a group of Filipino entrepreneurs and businessmen led by Ramon Cojuangco took control of PLDT after buying its shares from the American telecommunications company GTE. The group took control of PLDT's management on January 1, 1968, with the election of Gregorio S. Licaros and Cojuangco as chairman and president of PLDT respectively. A few months later, PLDT's main office in Makati City (known today as the Ramon Cojuangco Building) was opened, and PLDT's expansion programs begin, hoping to bring reliable telephone services to the rural areas.
PLDT was permitted to operate during Martial Law. During the 1970s, PLDT was nationalized by the government of then-President Ferdinand Marcos and in 1981, in furtherance of the then existing policy of the Philippine government to integrate the Philippine telecommunications industry, purchased substantially all of the assets and liabilities of Republic Telephone Company, becoming the country's telephone monopoly. However, after he was overthrown, the company was re-privatized. By 1995, with the passage of the Telecommunications Act and the subsequent deregulation of the Philippine telecommunications industry, the company had been de-monopolized.
In 1991, Smart Communications was incorporated, with its major shareholders at the time being certain Philippine companies and other affiliates of First Pacific (the parent company of PLDT), as well as NTT Communications Capital (UK) Limited. Both groups owned around 96.7% of the new company.
In 1998, MediaQuest Holdings, Inc., a wholly owned subsidiary of the PLDT Beneficial Trust Fund, acquired Nation Broadcasting Corporation from the joint consortium of the Yabut family and then real estate magnate and Speaker of the House Manny Villar.
On March 24, 2000, PLDT completed its share-swap acquisition of Smart, making Smart a 100%-owned PLDT subsidiary.
In 2007, MediaQuest bought the shares GV Broadcasting Systems, a licensed direct-to-home (DTH)) satellite television provider from Satventures Inc. of the Galang family. With this, GV changed its corporate name 360Media to MediaScape Inc.
On November 29, 2008, they celebrate 80 years and the slogan is We're Changing Lives live on Eat Bulaga! at GMA Network in Saturday.
On March 2, 2010, PLDT announced that its subsidiary, MediaQuest Holdings, Inc., has acquired 100 percent of Associated Broadcasting Company (TV5) and Primedia Inc.
On March 2011, PLDT bought 51.55% of Digitel's shares for 69.2 Billion Pesos.[5]
On October 26, 2011, NTC finalize the PLDT-Digitel deal. The majority holder of the company is the PLDT. As a result Manuel Pangilinan is the new Chairman of Digitel.
On November 17, 2011 PLDT offers first fiber optic connection to home users with PLDT Fibr
The following are PLDT's wholly owned subsidiaries and affiliates (as indicated), divided according to its self-defined categories:
Wireless:
Fixed-Line:
Information and Communications Technology:
Broadcasting:
PLDT reported that as of September 11, 2011, its mobile phone subscriber base reached 47,780,121 users, combining subscribers using Smart, Talk 'N Text, and Red Mobile.[10]
Twenty percent of Meralco shall be sold to PLDT, according to the Lopez family who owns the Philippine's largest electric distributor on March 13, 2009. The deal is set to be done in the third quarter of 2009 with the cost of 20 billion pesos. The said action was done to prevent the hostile takeover of San Miguel Corporation, which already owns a large portion of Meralco.[11]
PLDT's main competitors are Globe Telecom and Digitel in both the fixed-line and mobile (via Smart's competition with Globe and Sun Cellular) markets. Bayan Telecommunications (BayanTel) is also a major fixed-line competitor of PLDT.
PLDT, via its 99.5%-owned subsidiary Pilipino Telephone Corporation,[12] owns the Talk 'N Text Tropang Texters Philippine Basketball Association team.
PLDT also previously owned, via a partnership with its wholly owned Smart Communications subsidiary and the Ateneo de Manila University (of which Panginilan is an alumnus), the Addict Mobile-Ateneo basketball team of the Philippine Basketball League.
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