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ABS-CBN Corp said on Thursday the sale of its interest in Sky Cable Corp to PLDT Inc would no longer push through. 

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Sky Cable, PLDT deal not pushing through

ABS-CBN News

<p>MANILA -- ABS-CBN Corp said on Thursday the sale of its interest in Sky Cable Corp to PLDT Inc would no longer push through.</p><p>In a disclosure to the stock exchange, ABS-CBN Corp said the move has been mutually decided by both parties.</p><p>&quot;ABS-CBN Corporation and PLDT have mutually decided not to proceed with the sale of Sky Cable to PLDT under the Sale and Purchase Agreement signed by and among the parties in March 2023,&quot; the company said.</p><p>Sky Cable has told its subscribers its cable TV service will continue, and that they can maintain their subscriptions.</p><p>Meanwhile, Sky’s internet broadband service SKYFiber remains unaffected.</p><div><a href="https://news.abs-cbn.com/business/2024/2/22/abs-cbn-corp-statement-on-sky-cable-pldt-deal-921" rel="noopener noreferrer" target="_blank">ABS-CBN Corp statement on Sky Cable, PLDT deal</a></div><p>Sky Cable had earlier told its customers that it will transition into a dedicated internet service provider pursuant to the closing conditions of the PLDT-Sky Cable acquisition deal.</p><p>The Philippine Competition Commission had allowed the sale of Sky Cable’s broadband business and related assets to PLDT Inc. The transaction involved the sale of 100 percent of Sky’s total issued and outstanding capital stock.</p><div><a href="https://news.abs-cbn.com/business/01/29/24/anc-to-continue-operations-after-sky-cable-sign-off" rel="noopener noreferrer" target="_blank">ANC to continue operations after Sky Cable sign-off</a></div><p>PLDT is owned by businessman Manny Pangilinan.</p><div><ivs-player data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-vid="2967951"></ivs-player></div><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script>

<p>ABS-CBN Corp said on Thursday the sale of its interest in Sky Cable Corp to PLDT Inc would no longer push through. </p>

ABS-CBN Corp said on Thursday the sale of its interest in Sky Cable Corp to PLDT Inc would no longer push through.