Sky Cable Corporation

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Sky Cable Corporation
Type 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 Mega Manila
Key people Carlo L. Katigbak
(President, Chief operating officer, Chief executive officer)
Products Destiny Cable, SkyCable, SkyBroadband, SkyVoice, iWanTV!, SkyCable HD, SkyCable Dual-def, among others
Services cable television, broadband internet, VoIP, digital cable
Revenue IncreasePH₱6.99 billion (FY 2013)
Owners ABS-CBN Corporation (57.4%)[1]
Sky Vision Corporation (4.9%)[1]
Sampaquita Communications Pte., Ltd. (37%)[1]
minorities (1%)[1]
Parent Sky Vision Corporation
Website www.mysky.com.ph

Sky Cable Corporation (or simply SkyCable or Sky) is a Filipino cable telecommunications company and the country's largest cable television provider. The company operates in Mega Manila and provincially through its various subsidiaries.[2] The company is a subsidiary of the Filipino media conglomerate ABS-CBN Corporation and is based in Pasig City.

It was founded in 6 June 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 half a million subscribers in Mega Manila.

History[edit]

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]

As of 2014, SkyCable (and other ISPs) are under increasing pressure to provide an internet service with better performance and reliability. Despite the Philippines being one of the most expensive locations in the world for internet ($/Mb), the internet service is still unreliable and struggles with load during peak hours. Lack of Government regulation (or enforcement of regulation) and lack of competition is suspected to be the major reason behind the lack of infrastructure improvement. [11] [12]

Subsidiaries[edit]

Skycable and subsidiaries.png

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 Cable Network, Inc., through Filipino Cable Corporation
  • Discovery Cable, Inc. (70%)
  • Filipino Cable Corporation, 54.5% direct and 45.5% through Telemondial Holdings, Inc.
  • First Ilocandia CATV, Inc., 91.25% through Filipino Cable Corporation
  • HM CATV Networks, Inc.
  • Home-Lipa Cable, Inc. (60%)
  • Hotel Interactive Systems, Inc.
  • Isla Cable TV, Inc.
  • JMY Advantage Corporation (95%)
  • Moonsat Cable Television, Inc., 55% direct and 45% through Telemondial Holdings, Inc.
  • New City Cable Inc.
  • Pacific CATV, Inc. (91.52%) through Filipino Cable Corporation
  • 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[edit]

  1. ^ a b c d Villanueva, Paul Michael (27 March 2013). "ABS-CBN Corporation 2012 SEC Form 17-A" (Press release). Philippine Stock Exchange. 
  2. ^ "Cable". Lopez Holdings Corporation. 2008. Retrieved 2 June 2012. 
  3. ^ a b "Sky Cable". Lopez Group. Retrieved 4 June 2012. 
  4. ^ "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. 
  5. ^ Dela Pena, Zinnia. "Sky Vision buys Lorenzo stake in Pilipino Cable". The Philippine Star. Retrieved 4 June 2012. 
  6. ^ "Shareholder's FAQ". Retrieved 4 June 2012. 
  7. ^ Monticello, Paolo (5 December 2011). "Singaporean firm gets 40% of SkyCable". The Philippine Daily Inquirer. Retrieved 4 June 2012. 
  8. ^ "Sky Cable buys Destiny Cable’s assets". ABS-CBN News and Current Affairs. 11 May 2012. Retrieved 4 June 2012. 
  9. ^ "SkyCable aims to grow market, signs 3 deals". ABS-CBN News and Current Affairs. 15 May 2012. Retrieved 4 June 2012. 
  10. ^ "Lopez Holdings Corporation investments pushes for growth in the media business". 
  11. ^ "Government Blamed for Philippines Slow Internet". 
  12. ^ "Why Philippine Internet Speeds Are Slow". 

External links[edit]