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<p>MANILA – ABS-CBN Corp said on Monday SKY Cable and PLDT Inc’s deal fell through because the two firms were unable to agree on the commercial terms.</p><p>Both ABS-CBN Corp. and PLDT on Thursday announced they had “mutually” agreed to not push through with the deal.</p><p>On Monday, ABS-CBN Corp issued another disclosure to the stock exchange saying &quot;Sky Cable fully disclosed all financial information related to the deal over the due diligence review, but the parties were unable to agree on the commercial terms. The Company will always explore opportunities to serve our subscribers, employees, and stakeholders. We shall comply with disclosure requirements if any definitive decisions are made on any of those opportunities.&quot;</p><p>On Tuesday morning, PLDT also told the state bourse that they did not push through with the deal &quot;due to the non-fulfillment of certain closing conditions, which compelled the parties to revisit the commercial terms of the Proposed Transaction.&quot;</p><p>PLDT Inc. Chairman Manny Pangilinan on Monday also said he is assuming that the termination of the deal is final.</p><p>Interviewed on the sidelines of Meralco&#x27;s earnings briefing, Pangilinan said “We’re assuming it is final because both companies have announced di ba? Termination of discussion.&quot;</p><p>When asked if the decision to drop the deal has something to do with price changes, Pangilinan said: “It is difficult to comment because it’s a very sensitive matter. All I can say is we’ve said what we needed to say.”</p><p>Meanwhile, Converge ICT Solutions Inc also issued clarification after it was reported to be in exploratory talks with SKY Cable.</p><p>In a separate disclosure to the stock exchange, Converge said it has always been exploring ways to deliver better experiences for its customers.</p><p>“From time to time, the Company may be presented with potential business development, partnership, or investment opportunities and, as part of its duties to its stakeholders, the Company will always look at those opportunities,” it added.</p><p>Any “definitive” decisions shall be disclosed, the firm led by Pampanga-based businessman Dennis Anthony Uy said.</p><p>SKY Cable earlier said its cable TV services would continue beyond Feb. 26. Subscribers will not be billed for the cable TV service from January 26 to March 15. Billing will resume on March 16.</p><div><br/></div><ul><li><a data-cke-saved-href="https://news.abs-cbn.com/business/2024/2/22/abs-cbn-corp-statement-on-sky-cable-pldt-deal-921" href="https://news.abs-cbn.com/business/2024/2/22/abs-cbn-corp-statement-on-sky-cable-pldt-deal-921">ABS-CBN Corp statement on Sky Cable, <span data-scayt-word="PLDT" data-wsc-id="lt2x72tjk2q3u04ay" data-wsc-lang="en_US">PLDT</span> deal</a></li></ul><div><br/></div><div><strong>RELATED VIDEO</strong></div><figure><iframe width="560" height="315" src="https://www.youtube.com/embed/PeIkG0cIxSQ?enablejsapi=1"></iframe></figure><p>Watch more News on <a data-cke-saved-href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank"><span data-scayt-word="iWantTFC" data-wsc-id="lt2x6nhcsy1f1pa2u" data-wsc-lang="en_US">iWantTFC</span></a></p><div><br/></div><div><br/></div>

<p>ABS-CBN Corp. said on Monday SKY Cable and PLDT Inc’s deal fell through because the two firms were unable to agree on the commercial terms.</p>

ABS-CBN Corp. said on Monday SKY Cable and PLDT Inc’s deal fell through because the two firms were unable to agree on the commercial terms.

ABS-CBN Corp. on scrapped deal: SKY Cable, PLDT ‘unable to agree’ on commercial terms

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ABS-CBN Corp. on scrapped deal: SKY Cable, PLDT ‘unable to agree’ on commercial terms

ABS-CBN News

Published February 26, 2024 08:35 PM PHT

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Updated February 27, 2024 11:10 AM PHT

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