PLDT acquiring Sky Cable’s broadband business for P6.75 billion

The deal also entails that Sky Cable’s paid TV and cable businesses will be terminated, according to stock exchange filings submitted on Thursday, March 16, by PLDT and Sky Cable’s majority shareholder, ABS-CBN.

ABS-CBN said that Sky Cable’s broadband and cable TV services will continue while awaiting regulatory approvals. Once the deal is given the green light, Sky Cable said it is “committed to working with all its cable TV subscribers to ensure a transition to their preferred service.”

ABS-CBN did not disclose what it would do to its cable channels, including flagship news channel ANC, after the deal.