Philippine Media Giant ABS-CBN Cancels Sky Cable Sale to PLDT

By Jace Dela Cruz

Feb 22, 2024 12:56 AM EST

Philippine media giant ABS-CBN Corp. revealed on Thursday that the planned sale of its ownership in Sky Cable Corp. to telco leader PLDT Inc. has been called off.

(Photo : TED ALJIBE/AFP via Getty Images)
An employee stands beside a logo of the ABS-CBN network logo in the newsroom on the final day of work for most of its staff, at the broadcasting network's headquarters in Manila on August 31, 2020.

ABS-CBN Cancels Sky Cable Sale

Citing a disclosure filed with the stock exchange, ABS-CBN News reported that ABS-CBN Corp. noted that the decision not to proceed with the sale was reached mutually by both parties.

Sky Cable has assured its subscribers that its cable TV service will continue and they can maintain their existing subscriptions without disruption.

Sky Cable also affirmed that its internet broadband service, SKYFiber, remains unaffected by this development, assuring its customers of continued service reliability.

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Official Statement of ABS-CBN

"ABS-CBN Corporation and PLDT have mutually decided not to proceed with the sale of Sky Cable to PLDT under the Sale and Purchase Agreement signed by and among the parties in March 2023," ABS-CBN Corp. said in a statement.

"We thank all our Sky subscribers for their continued patronage and support. We remain committed to providing the same level of customer experience and service for both our cable and internet services," the company added. 

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