Altimax Broadcasting Company

Altimax Broadcasting Company
Subsidiary
Industry DBBS pay-TV service
MMDS wireless cable TV and internet broadband
Founded 1997
Headquarters Pasig City, Philippines
Key people
 Steve Macion
Mel Velarde
Alberto de Larrazabal
Owner Bethlehem Holdings Inc. (Globe Group Retirement Fund) (39%)
The Velarde Group (14%)
Ayala Corporation

Altimax Broadcasting Company (Altimax) is a media company co-owned by The Velarde Group and Bethlehem Holdings, Inc. (BHI, a subsidiary of the Globe Group Retirement Fund). Altimax's media businesses are direct-broadcast satellite (DBBS) and Multipoint Multichannel Distribution Service (MMDS) wireless cable TV and broadband.

History

In 1999, The Velarde Group and its holding investment firm Velarde, Inc. (VI), led by former SkyCable executive vice president Mel Velarde, acquired Altimax Broadcasting Company and its broadcast assets. With this, Altimax was transformed into a wireless broadband service by applying two licenses to the National Telecommunications Commission (NTC): Direct Broadcast Satellite (DBBS) two-way service license, and Multi-point Microwave Distribution Service (MMDS) license utilizing 48 MHz within the 2.5 GHz band. The two licenses were under the Provisional Authority (PA).[1] Altimax's original headquarters were located at Espana Blvd., Sampaloc, Manila.

However, in 2005, NTC stopped and revoked Altimax's licenses amid questioning the PA and the providing services.[2] Velarde sued NTC and, 2 years later, won the lawsuit which took legal protection for its licenses.

Acquisition by Globe

Bethlehem Holdings Inc., a subsidiary of Globe Telecom's Group Retirement Fund (GRF), signed an agreement with Radio Mindanao Network for the acquisition of Broadcast Enterprises and Affiliated Media (BEAM) in February 2009. 8 months later (October 2009), BHI also signed an agreement with Velarde/Altimax for the expansion of its MMDS/DBS wireless services.[3]

In contrast, the Ayala-led BHI acquired 39% of its stake in Altimax (with Velarde keeping 14%; while the remaining stake would be under Globe's parent companies Ayala Corporation and SingTel) while taking the acquisition of BEAM's majority stake.[4]

The licenses were revoked again by the NTC due to complaints from several cable companies and even the Philippine Cable Television Association (PCTA), as well as "unpaid revenues" questioned by Senators Jinggoy Estrada and Antonio Trillanes IV.[5][6]

Currently, Altimax is now proposing a 10 kilowatt-UHF pay TV station using Channel 19 as its frequency.[7][8]

Affiliates

See also

References

  1. ↑ Mel Velarde's Biography
  2. ↑ Altimax bid for license extension rejected
  3. ↑ Globe Telecom's SEC filing (17-A)
  4. ↑ Globe buys into two broadcast firms | ABS-CBNNews.com
  5. ↑ Altimax license bid blocked by cable group | ABS-CBNNews.com
  6. ↑ http://phlnews.blogspot.com/2011/10/altimax-globe-used-illegal-frequencies.html
  7. ↑ Ayala group to offer pay-TV service in challenge to SkyCable, Cignal InterAksyon.com. January 7, 2014
  8. ↑ Globe keeping close watch on ABS-CBN as possible model for media venture InterAksyon.com. February 25, 2014
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.