Sky (cable company)
|
Imagine what you can do. | |
| Subsidiary | |
| Industry | Telecommunications |
| Founded | 6 June 1990 |
| Headquarters | 33rd Floor, East Tower, Philippine Stock Exchange Centre, Exchange Road, Ortigas Center, Pasig City, Philippines |
Area served | Nationwide |
Key people |
Carlo L. Katigbak (President, Chief operating officer, Chief executive officer) |
| Products | Destiny Cable, SkyCable, SkyBroadband, SkyVoice, SkyBiz, iWanTV! |
| Services | cable television, broadband internet, VoIP, digital cable |
| Revenue |
 PH₱7.764 billion (FY 2014)[1] |
| Owner |
ABS-CBN Corporation (57.4%) Sky Vision Corporation (4.9%)[1] Sampaquita Communications Pte., Ltd. (37%) minorities (1%) |
| Parent | ABS-CBN Corporation |
| Website |
www |
Sky Cable Corporation (or simply Sky) is a Filipino cable telecommunications company and the country's largest cable television provider. It is a subsidiary of the media conglomerate ABS-CBN Corporation and is based in Pasig City. Sky operates in Mega Manila and provincially through its various subsidiaries.[2]
Sky was founded on June 6, 1990 as Central CATV, Inc. by Benpres Holdings Corporation (now Lopez Holdings Corporation). Today it expanded to offer digital cable, broadband internet, and VoIP to its over 800 thousands subscribers nationwide.
History
On 6 June 1990, Sky Cable Corporation was incorporated as Central CATV, Inc.[3] On 25 March 1991, Sky Vision Corporation, a holding company incorporated with the primary purpose of buying and owning stocks of Central CATV, Inc. was founded.
On March 30, 1995, Central CATV Inc. was granted a 25-year provisional franchise to establish, construct, maintain and operate community antenna television system in the Philippines through Republic Act 7969.[4]
In 1997, Sky Vision Corporation acquired 47% of Pilipino Cable Corporation for 900 million pesos.[5] In 2001, Sky Cable and Philippine Long Distance Telephone Company's Home Cable entered into a master consolidation agreement to form the holding company Beyond Cable, Inc.[3] In April 2008, then ABS-CBN Broadcasting Corporation (now ABS-CBN Corporation), started consolidating the cable company’s fiscal result into its financial statement.[6]
In May 2011, Singapore-based firm Sampaquita Communications Pte., Ltd. acquired 40 percent of Sky Cable through Philippine Depositary Receipts (PDR) worth 3.612 billion and 250 million pesos of convertible notes to fund the expansion of Sky Cable’s broadband internet and cable television services.[7]
On 11 May 2012, Sky Cable acquired the assets of Destiny Cable (from Destiny Cable Inc.), UniCable (from Uni-Cable TV, Inc.) and MyDestiny broadband internet (from Solid Broadband Corporation) with consolidating value of 3.497 billion pesos.[8][9]
In 2013, SkyCable revenues increased by 18% to P6.99 billion from P5.94 billion. The growth in SkyCable revenues was partly attributable to the acquisition of Destiny Cable, Inc. Postpaid revenues grew by 16% and broadband revenues by 33%. SKY’s cable TV subscriber count improved by 10 percent as of the end of 2012 while SKYbroadband registered a 44 percent percent growth on its base versus the previous year.[10]
Subsidiaries
Here is a list of assets owned by Sky Cable Corporation. Note that these are also recognized as an indirect subsidiary of the parent (ABS-CBN Corporation). All are wholly owned and operated unless otherwise indicated.
- Bisaya Cable Television Network, Inc., through Telemondial Holdings, Inc.
- Bright Moon Cable Networks, Inc.
- Cavite Cable Corporation
- Cebu Cable Television, Inc., 30% direct and 70% through Pacific CATV, Inc.
- Cepsil Consultancy and Management Corporation
- Davao Cableworld Network, Inc., through Pilipino Cable Corporation
- Discovery Cable, Inc. (70%)
- First Ilocandia CATV, Inc., 91.25% through Pilipino Cable Corporation
- HM Cable Networks, Inc.
- HM CATV, Inc.
- Home-Lipa Cable, Inc. (60%)
- Hotel Interactive Systems, Inc.
- Isla Cable TV, Inc.
- JMY Advantage Corporation (95%)
- Mactan CATV Network, Inc., through Pacific CATV, Inc.
- Moonsat Cable Television, Inc., 55% direct and 45% through Telemondial Holdings, Inc.
- Pacific CATV, Inc. (91.52%) through Pilipino Cable Corporation
- Pilipino Cable Corporation, 54.5% direct and 45.5% through Telemondial Holdings, Inc.
- Satellite Cable TV, Inc.
- Suburban Cable Network, Inc. (92.5%)
- Sunvision Cable, Inc.
- Sun Cable Holdings, Inc.
- Sun Cable Systems, Inc., through Sun Cable Holdings, Inc.
- Tarlac Television Network, Inc.
- Telemondial Holdings, Inc.
References
- ↑ 1.0 1.1 P. Valdueza, Rolando (April 24, 2015). 2014 Annual Report (17-A) (Report). Philippine Stock Exchange. Retrieved April 27, 2015.
- ↑ "Cable". Lopez Holdings Corporation. 2008. Retrieved 2 June 2012.
- ↑ 3.0 3.1 "Sky Cable". Lopez Group. Retrieved 4 June 2012.
- ↑ "REPUBLIC ACT NO. 7969 - AN ACT GRANTING THE CENTRAL CATV, INC. A FRANCHISE TO ESTABLISH, CONSTRUCT, MAINTAIN AND OPERATE FOR COMMERCIAL PURPOSES CABLE/COMMUNITY ANTENNAE TELEVISION SYSTEMS IN THE PHILIPPINES". chanrobles.com. Retrieved 6 June 2012.
- ↑ Dela Pena, Zinnia. "Sky Vision buys Lorenzo stake in Pilipino Cable". The Philippine Star. Retrieved 4 June 2012.
- ↑ "Shareholder's FAQ". Retrieved 4 June 2012.
- ↑ Monticello, Paolo (5 December 2011). "Singaporean firm gets 40% of SkyCable". The Philippine Daily Inquirer. Retrieved 4 June 2012.
- ↑ "Sky Cable buys Destiny Cable’s assets". ABS-CBN News and Current Affairs. 11 May 2012. Retrieved 4 June 2012.
- ↑ "SkyCable aims to grow market, signs 3 deals". ABS-CBN News and Current Affairs. 15 May 2012. Retrieved 4 June 2012.
- ↑ "Lopez Holdings Corporation investments pushes for growth in the media business".
External links
- Official website
- Sky Cable on ABS-CBN Investor Relation
- Sky Cable Corporation on BusinessWeek
- Sky Cable Corporation on JobStreet.com
