Latest Stories

ABS-CBN to raise funds for shift to digital TV


ABS-CBN Corp., the listed broadcast arm of the Lopez group, may raise fresh funds through the sale of debt notes or equity, or a combination of the two, this year to partly fund a government-mandated shift to digital television and support new business lines.

ABS-CBN has yet to finalize the fundraising plan but chair Eugenio Lopez III ruled out the possible entry of strategic investors as he told reporters on Tuesday that the intention was to bring in only “financial investors.”

Still, talks with several unnamed groups were described by chief financial officer Rolando Valdueza as “exploratory.”

He said ABS-CBN has so far tapped ING Bank as financial adviser.

The company has been restructuring its capital, which involved the issuance of voting preferred shares, to give it the flexibility to tap the equities market.

In the meantime, stockholders of ABS-CBN approved the removal of their preemptive rights to future share issuances.

“We have several programmed initiatives and one is very well known, the shift to digital terrestrial television,” Lopez told reporters following the company’s annual stockholders’ meeting.

“There are other initiatives that have to do with our digital online programs but we are not at liberty to divulge what these are,” he added.

ABS-CBN posted a 29-percent decline in its 2012 net income to P1.71 billion mainly due to the absence of the one-time gain posted  in the  previous year. Consolidated revenue during the period rose by 13 percent to P28.4 billion, led by higher advertising revenue and consumer sales.

Valdueza declined to comment on the company’s earnings outlook, noting that first quarter figures, scheduled for release on May 15,  should be better year-on-year.

ABS-CBN shares closed down by 0.11 percent to P42.50 each on Tuesday.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: ABS-CBN , Business , digital TV , Television

  • wafu

    gandahan nyu na lang sana quality ng palabas. napapanood ko puro paghihirap, tarayan, love story na obvious ang ending,

    baguhin nyu ung template ng teleserye nyu na may mahirap at mayaman na na-inlove sa isa’t isa na may mayaman na kontrabida na aapihin ung bida sa halos buong airtime ng palabas

  • Karabkatab

    Shift to digital TV is useless if the station will still produce shows heavily bombarded with useless ads and commercials.

    • http://www.facebook.com/yet.jua Yet Jua

      what are useless ads and commercials ?

    • gikiness


Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace