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ABS-CBN Convergence

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ABS-CBN Convergence, Inc.
Company typeSubsidiary
IndustryTelecommunications
FoundedDecember 29, 2011
Headquarters
ABS-CBN Broadcasting Centre, Sgt. Esguerra Ave. corner Mother Ignacia St., Barangay South Triangle, Diliman, Quezon City
,
Philippines
Key people
Carlo Katigbak (President)
ProductsABS-CBN Mobile
ServicesCellular Telephony
ParentABS-CBN Corporation

ABS-CBN Convergence, Inc. (shortened to ABS-C), formerly known as Multi-Media Telephony, Inc. is the mobile telecommunications subsidiary of the media conglomerate ABS-CBN Corporation. It is set to operate a wireless mobile phone service ABS-CBN Mobile, which is expected to operate by the end of 2013.

History

On January 27, 2012, Bayan Telecommunications (BayanTel) signed an asset purchase agreement with ABS-C to hand over BayanTel's wireless landline service and its related assets to the latter, which was completed on February 1. The handover includes the telco company's required licenses, interconnection trunks, subscribers and employees. [1] This agreement is executed after BayanTel's acquisition by Globe Telecom through the acquisition of 96.17% of the company's debt. [2]

On May 28, 2013, ABS-C signed a network-sharing agreement with Globe to create a new cellular telephony brand ABS-CBN Mobile, expected to begin by the end of 2013. ABS-CBN Mobile will create its own prepaid and postpaid voice, SMS, and mobile broadband services while sharing servers, towers, and switches with Globe. Parent ABS-CBN Corporation will inject ₱2-3 billion to subsidiary ABS-C to build and expand the telco service for the next 2 years. [3]

The National Telecommunications Commission approved the deal on June 8, 2013.[4]

References

  1. ^ "ABS-CBN Corporation - SEC Form 17-Q 2Q13 Quarterly Report" (PDF) (Press release). 14 August, 2013. Retrieved 18 September, 2013. {{cite press release}}: Check date values in: |accessdate= and |date= (help)
  2. ^ "Ayala's Globe Completes Take-Over of Lopez's Bayantel".
  3. ^ Montecillo, Paolo (28 May 2013). "ABS-CBN forays into telco business". Philippine Daily Inquirer. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  4. ^ NTC okays Globe-ABS-CBN network sharing agreement
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