History
Since it started community antenna television system operation in the Philippines on January 26, 1992, SkyCable provides cable Internet, VoIP services and digital cable TV service.
- On June 6, 1990, SkyCable Corporation was incorporated via 79.3% stake in Sky Vision Corporation, operator of cable brands, SkyCable and Sun Cable.
- On April 18, 1991, Sky Vision Corporation was incorporated and ventures into cable television (SkyCable and Sun Cable), communication, system, television media, shopping network (Sky Mall) and film distribution (Sky Jemah). It is owned 18.8% by ABS-CBN Corporation and 78% by Lopez Inc.
- On March 30, 1995, Central CATV Inc. was granted a 25-year provisional franchise to establish, construct, maintain and operated community antenna television system in the Philippines through Republic Act 7969.
- In 1997, Sky Vision Corporation acquired 47% of Pilipino Cable Corp., operator of Sun Cable for P900 million.
- In 1997, SkyCable launches its first cable TV branded credit card in the Philippines, the SkyCard MasterCard with SolidBank and the SkyCard-Citibank MasterCard with Citibank N. A.
- In 2001, Benpress Holdings Inc. and Philippine Long Distance Telephone Company signed a master consolidation agreement for SkyCable Corporation to consolidate its interest.
- In July 2001, Unilink Communications Corp. operator of Home Cable, Philippines second largest cable TV company, merged its CATV operation to SkyCable and created Beyond Cable Inc. with an enterprise value of P14.5 billion. Beyond Cable Inc. controls 66.5% through Benpress Holdings Corp. and 33.5% through MediaQuest Holdings, Inc.
- On December 7, 2001, Beyond Cable Holdings Inc. was incorporated.
- In April 2008, then ABS-CBN Broadcasting Corporation (now ABS-CBN Corporation), which owns about two-thirds of the equity of SkyCable, started consolidating the cable company’s fiscal result into its financial report including SkyCable’s general and administrative expenses or the GAEX.
- In May 2011, Singaporean firm Sampaquita Communications Pte. Ltd. acquired 40 percent of SkyCable through Philippine Depositary Receipts worth P3.612 billion and P250 million of convertible notes to fund the expansion of SkyCable’s broadband Internet and cable TV services.
- On May 11, 2012, SkyCable bought Destiny Cable Inc., Uni-Cable TV Inc. and Solid Broadband Corp. 's cable TV and broadband internet assets and subscribers with consolidating value of P3.497 billion.
Read more about this topic: Sky Cable
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