Sky Cable Corporation

Sky Cable Corporation, commonly known as Sky, is a Philippine telecommunications and pay-television company headquartered in Diliman, Quezon City. It operates within the Lopez Group and is a subsidiary of ABS-CBN Corporation. The company serves residential and business customers through a portfolio that has included cable television, fixed-line broadband, satellite television, over-the-top video and IPTV services. The business was incorporated on June 6, 1990 as Central CATV, Inc. by Benpres Holdings Corporation, the Lopez-affiliated company now known as Lopez Holdings Corporation. Its original focus was community antenna television. In 1991, Sky Vision Corporation was established as a holding company to own shares in Central CATV. The company received a 25-year provisional franchise in 1995 under Republic Act No. 7969, authorizing it to establish and operate community antenna television systems in the Philippines. Sky expanded through consolidation and acquisitions. In 1997, Sky Vision acquired a 47 percent interest in Pilipino Cable Corporation. In 2001, Sky Cable and Philippine Long Distance Telephone Company's Home Cable entered into a master consolidation agreement that created the holding company Beyond Cable, Inc. ABS-CBN began consolidating Sky's financial results in 2008. In 2012, Sky acquired the assets of Destiny Cable, UniCable and MyDestiny broadband, significantly increasing its subscriber base and geographic reach. Destiny Cable was subsequently operated as a Sky-associated cable brand before being shut down in 2019. Broadband became an increasingly important part of the company's business. The broadband service launched as Sky Broadband in the early 2010s, later became Sky Fiber and was renamed Sky TruFiber in October 2024 as part of a transition toward full-fiber connectivity. Sky has also operated Sky Biz for enterprise customers and introduced Sky On Demand as a video-on-demand and TV-everywhere service. Its Sky Direct satellite television service received a provisional license in 2015 but was ordered to cease operations in 2020 after the expiration of the relevant franchise. The company has been involved in several proposed ownership and strategic transactions. In 2022, Cignal Cable Corporation announced a proposed minority investment with an option to acquire the rest of Sky, but the transaction was terminated in September of that year. In March 2023, PLDT announced an agreement to acquire Sky for PHP 6.75 billion, subject to conditions and regulatory approvals. Although the Philippine Competition Commission allowed the transaction to proceed in January 2024, ABS-CBN and PLDT mutually abandoned the sale in February 2024. The planned discontinuation of Sky's cable television operations was consequently shelved. In July 2024, Sky announced a partnership with Converge ICT Solutions to use Converge's pure-fiber infrastructure and upgrade its broadband network. The arrangement supports Sky's shift from legacy fixed-line broadband toward a fiber-based model. Sky also introduced Sky TV, an IPTV service connected to its fiber offering, in the fourth quarter of 2024. As of January 2024, the company was reported to have more than 650,000 customers nationwide, comprising approximately 300,000 cable television subscribers and 350,000 broadband subscribers.

Sky Cable Corporation began on June 6, 1990, when Benpres Holdings Corporation incorporated Central CATV, Inc. to develop community antenna television services in the Philippines. The following year, Sky Vision Corporation was formed as a holding company intended to acquire and own shares in Central CATV. The company received a 25-year provisional franchise in 1995 through Republic Act No. 7969, giving it authority to establish, construct, maintain and operate community antenna television systems. The company expanded its cable presence through ownership investments and consolidation. In 1997, Sky Vision purchased a 47 percent stake in Pilipino Cable Corporation for PHP 900 million. In 2001, Sky Cable and Home Cable, then associated with Philippine Long Distance Telephone Company, entered into a master consolidation agreement that resulted in the creation of Beyond Cable, Inc. ABS-CBN Corporation began including Sky's financial results in its consolidated accounts in April 2008, strengthening Sky's position within the ABS-CBN media and communications portfolio. In May 2011, Singapore-based Sampaquita Communications Pte. Ltd. acquired a 40 percent interest in Sky Cable through Philippine Depositary Receipts valued at PHP 3.612 billion, together with PHP 250 million in convertible notes intended to fund expansion of broadband and cable television services. On May 11, 2012, Sky acquired the assets of Destiny Cable, UniCable and MyDestiny broadband. The transaction, reported at a consolidated value of PHP 3.497 billion, substantially broadened the company's subscriber base and operating footprint. Destiny Cable's operations and assets were subsequently integrated into Sky's cable activities, and the Destiny brand was discontinued in 2019. Sky's broadband business became a major growth area during the 2010s. The service launched as Sky Broadband in the early part of the decade and offered high-speed residential internet, including speeds of up to 200 megabits per second in selected Metro Manila locations in 2012. The service was later rebranded as Sky Fiber. Sky also operated Sky Biz for small and medium-sized businesses, providing dedicated broadband and integrated communications services. In 2013, the company discontinued its voice-over-IP offering and introduced bundled plans combining its broadband and cable services with ABS-CBN Mobile postpaid products. Sky pursued additional distribution technologies during this period. On December 23, 2015, the National Telecommunications Commission granted the company an 18-month provisional license to launch a direct-to-home satellite service, with an announced initial investment of PHP 252 million for deployment across 251 Philippine cities and municipalities. Sky Direct was subsequently taken off the air in March 2019 and ceased operations in 2020 after the expiration of the relevant legislative franchise. On June 30, 2020, the NTC issued a cease-and-desist order involving the service. Sky On Demand, an over-the-top and TV-everywhere service for Sky subscribers, was discontinued on September 1, 2020 following the integration of iWant and TFC Online. Ownership and strategic uncertainty became more prominent in the 2020s. In August 2022, Cignal Cable Corporation, a MediaQuest Holdings subsidiary, announced a proposed investment for a 38.88 percent minority stake in Sky, with an option to purchase the remaining 61.12 percent over eight years. The proposed transaction followed controversy surrounding a separate ABS-CBN and TV5 partnership and was paused in August before being terminated by the parties on September 1, 2022. On March 16, 2023, PLDT announced an agreement to purchase 100 percent of Sky Cable from Sky Vision Corporation, ABS-CBN Corporation and Lopez Inc. for PHP 6.75 billion. The proposed transaction focused on Sky's broadband business and related assets and was conditioned on, among other matters, the termination or cessation of the company's pay-television and cable operations. In January 2024, ABS-CBN announced that the Philippine Competition Commission had allowed the transaction to proceed. Sky then announced plans to discontinue cable operations on February 27, 2024. However, on February 22, ABS-CBN disclosed that it and PLDT had mutually decided not to complete the sale. Sky's proposed cable shutdown was shelved, and cable service continued until further notice. In July 2024, Sky announced a partnership with Converge ICT Solutions to modernize its broadband network through access to Converge's pure-fiber infrastructure. The company stated that the network would transition from existing fixed-line broadband toward full pure fiber by the end of 2025. In October 2024, Sky Fiber was renamed Sky TruFiber. Sky also launched Sky TV, an IPTV service, in the fourth quarter of 2024. The service was positioned as an add-on to Sky TruFiber and as a bundle option for Converge FiberX customers, while existing Sky Cable subscribers were offered a path to IPTV service. As of January 2024, Sky was reported to serve more than 650,000 customers across the Philippines, including approximately 300,000 cable television subscribers and 350,000 broadband subscribers. Its historical business has therefore combined subscription television with internet access, while its current strategic direction emphasizes fiber broadband and IP-delivered television.

1. 2024PLDT transaction abandoned

   ABS-CBN and PLDT mutually agree not to complete the proposed sale after competition approval had been obtained.

   Source
2. 2024Converge fiber partnership announced

   Sky announces an agreement to use Converge's pure-fiber infrastructure and modernize its broadband network.

   Source
3. 2024Sky Fiber becomes Sky TruFiber

   The broadband service is renamed Sky TruFiber as the company moves toward a pure-fiber operating model.

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4. 2024Sky TV IPTV service launched

   Sky introduces Sky TV, an IPTV offering associated with its fiber broadband service.

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5. 2023PLDT announces proposed acquisition

   PLDT announces an agreement to acquire all of Sky Cable for PHP 6.75 billion, subject to conditions and approvals.

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6. 2022Proposed Cignal Cable investment

   Cignal Cable announces a proposed minority investment and option arrangement involving Sky Cable, but the deal is terminated later in the year.

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7. 2020Sky Direct ceases operations

   Sky Direct stops operating following the expiration of the relevant franchise and regulatory action by the NTC.

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8. 2019Sky Broadband is rebranded as Sky Fiber

   Sky's broadband service adopts the Sky Fiber name. Destiny Cable is also shut down during the year.

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9. 2015Provisional license for direct-to-home satellite service

   The NTC grants Sky an 18-month provisional license to begin offering direct-to-home satellite television.

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10. 2012Destiny Cable and broadband assets acquired

    Sky acquires assets of Destiny Cable, UniCable and MyDestiny broadband.

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11. 2011Sampaquita acquires a minority stake

    Sampaquita Communications acquires a 40 percent interest in Sky Cable through Philippine Depositary Receipts and convertible notes.

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12. 2008ABS-CBN begins financial consolidation

    ABS-CBN Corporation begins consolidating Sky Cable's fiscal results into its financial statements.

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13. 2001Beyond Cable consolidation agreement

    Sky Cable and Home Cable enter a master consolidation agreement leading to the formation of Beyond Cable, Inc.

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14. 1997Investment in Pilipino Cable Corporation

    Sky Vision acquires a 47 percent stake in Pilipino Cable Corporation.

    Source
15. 1995Community antenna television franchise granted

    Republic Act No. 7969 grants the company a 25-year provisional franchise to operate community antenna television systems.

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16. 1991Sky Vision is established

    Sky Vision Corporation is formed as a holding company to acquire and own shares in Central CATV.

    Source
17. 1990Central CATV is incorporated

    Benpres Holdings Corporation incorporates Central CATV, Inc., the company that later becomes Sky Cable Corporation.

    Source

A Philippine connectivity and pay-television provider transitioning from legacy cable infrastructure toward pure-fiber broadband and IPTV, while retaining a broad consumer and enterprise service portfolio.

• Sky CableCable television

  Sky Cable is the company's principal cable television service. It has historically served customers in Metro Manila, surrounding communities and major provincial urban areas including Metro Cebu and Metro Davao. The service carries subscription television programming over Sky's cable network and has been one of the company's core consumer offerings. As of January 2024, the service was reported to have approximately 300,000 subscribers.

• Sky TruFiberBroadband internet2011

  Sky TruFiber is Sky's residential broadband brand. It was originally introduced as Sky Broadband, renamed Sky Fiber in 2019 and renamed Sky TruFiber in October 2024. The service is being transitioned toward pure-fiber connectivity through Sky's partnership with Converge ICT. The business had approximately 350,000 broadband subscribers as of January 2024 and is intended to support both high-speed internet and IPTV services.

• Sky TVInternet protocol television2024

  Sky TV is an IPTV service introduced in the fourth quarter of 2024 in connection with Sky's fiber strategy. It is offered as an add-on to Sky TruFiber and as part of selected Converge FiberX bundles. The service is designed to deliver television channels through a fiber internet connection and provides an alternative path for existing Sky customers as the company modernizes its distribution network.

• Sky BizEnterprise telecommunications

  Sky Biz is the company's enterprise service brand. It provides dedicated high-speed broadband and integrated connectivity services to small and medium-sized businesses and other organizational customers. The offering extends Sky's network capabilities beyond residential subscriptions and has been reported to serve more than 3,000 enterprise subscribers.

• Sky DirectDirect-broadcast satellite television2015

  Sky Direct was Sky's nationwide direct-broadcast satellite television service. It offered satellite-delivered standard- and high-definition channels, including programming positioned as unavailable from some competing providers. The service was taken off the air in March 2019 and ceased operations in 2020 following the expiration of the applicable franchise and an NTC cease-and-desist order.

• Sky On DemandOver-the-top video

  Sky On Demand was a video-on-demand and TV-everywhere platform available to Sky subscribers. It enabled Sky Broadband and Sky Mobi customers to access selected Sky Cable content across screens and connected devices. The service was discontinued on September 1, 2020 following the merger of iWant and TFC Online.

• Destiny CableCable television

  Destiny Cable, formerly Global Destiny Cable, was acquired by Sky in 2012 together with related broadband assets. Its subscribers and infrastructure were incorporated into Sky's operations, while the Destiny brand continued for a period as an associated cable offering. Destiny Cable was shut down in 2019.

• 2024Transition to pure-fiber broadbandStrategy

  Sky sought to modernize its fixed-line network and reduce reliance on legacy broadband infrastructure.

  What changed. Sky partnered with Converge ICT to use Converge's pure-fiber infrastructure, with a stated goal of reaching a full pure-fiber broadband network by the end of 2025.

  Aftermath. Sky Fiber was renamed Sky TruFiber in October 2024, and the fiber network became the platform for the company's IPTV expansion.

  Source
• 2024Introduce Sky TV IPTVProduct launch

  The company needed an IP-based television product compatible with its developing fiber broadband model.

  What changed. Sky launched Sky TV in the fourth quarter of 2024 as an add-on to Sky TruFiber and as a bundle option for selected Converge FiberX customers.

  Aftermath. The service created a migration path toward IPTV for existing Sky Cable customers and extended Sky's television offering beyond traditional cable delivery.

  Source
• 2023Proposed sale to PLDTM&A

  PLDT sought to acquire Sky's broadband business and related assets while requiring the cessation or termination of its pay television and cable activities.

  What changed. PLDT announced a sale and purchase agreement to acquire 100 percent of Sky Cable from Sky Vision Corporation, ABS-CBN Corporation and Lopez Inc.

  Aftermath. The Philippine Competition Commission later allowed the transaction to proceed, but ABS-CBN and PLDT mutually abandoned the sale in February 2024.

  Proposed purchase price. PHP 6.75 billion (2023)

  Source
• 2022Proposed Cignal Cable investmentM&A

  Cignal Cable Corporation sought a strategic position in Sky Cable amid broader developments involving ABS-CBN and TV5.

  What changed. Cignal Cable announced a proposed 38.88 percent minority investment through a debt instruments agreement and an option to acquire the remaining 61.12 percent within eight years.

  Aftermath. The proposal was paused amid political and regulatory concerns and was terminated by the parties on September 1, 2022.

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• 2015Launch Sky Direct satellite television serviceProduct launch

  Sky pursued nationwide television distribution beyond its fixed cable footprint.

  What changed. The NTC granted Sky an 18-month provisional license to offer direct-to-home satellite television, with a reported initial investment of PHP 252 million.

  Aftermath. Sky Direct later ceased operations following franchise expiration and regulatory action.

  Announced initial investment. PHP 252 million (2015)

  Source
• 2012Acquire Destiny Cable, UniCable and MyDestiny assetsM&A

  Sky sought to expand its cable television and broadband footprint through the acquisition of assets from Destiny Cable, Uni-Cable TV and Solid Broadband.

  What changed. Sky completed the asset acquisitions on May 11, 2012, with a reported consolidated value of PHP 3.497 billion.

  Aftermath. The transactions increased Sky's subscriber base and operating scale. Destiny Cable's assets were integrated into Sky's business, and the Destiny brand was later discontinued.

  Reported consolidated acquisition value. PHP 3.497 billion (2012)

  Source

• 2024Sky plans to discontinue cable television operations

  Sky announced that its cable television operations would end on February 27, 2024, while the proposed PLDT transaction was still being considered.

  Other
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• 2024PLDT and ABS-CBN abandon Sky Cable transaction

  After the Philippine Competition Commission allowed the transaction to proceed, PLDT and ABS-CBN mutually agreed not to complete the sale. The planned cable shutdown was also shelved.

  M&A
  Source
• 2024Sky partners with Converge ICT on fiber network modernization

  Sky announced an agreement with Converge ICT to use pure-fiber infrastructure, with a stated goal of transitioning its broadband network to full fiber by the end of 2025.

  Other
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• 2023PLDT announces agreement to acquire Sky Cable

  PLDT announced a PHP 6.75 billion agreement to acquire all of Sky Cable from Sky Vision Corporation, ABS-CBN Corporation and Lopez Inc., subject to conditions and regulatory approvals.

  M&A
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• 2022Cignal Cable announces proposed investment in Sky Cable

  Cignal Cable Corporation announced a proposed acquisition of a 38.88 percent minority stake through debt instruments, together with an option to acquire the remaining shares over eight years.

  M&A
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• 2022Proposed Cignal investment is terminated

  Following political and regulatory concerns surrounding a related ABS-CBN and TV5 partnership, the parties announced that the proposed Cignal investment in Sky would not proceed.

  M&ARegulation
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• 2020NTC orders Sky Direct to cease operations

  The National Telecommunications Commission issued a cease-and-desist order affecting Sky's direct-broadcast satellite service after the relevant franchise expired.

  Regulation
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• 2019Sky and Dito Telecommunity agree to use unused Metro Manila fiber capacity

  Sky entered into an agreement allowing Dito Telecommunity to utilize Sky's unused fiber-optic cables in Metro Manila.

  Other
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1. Sky Cable Corporation