MANILA - The Philippines' largest cable TV operator is spending P1 billion this year to complete the transfer of its subscribers to the digital format.
SkyCable Corp., which has 700,000 subscribers, recently acquired Destiny Cable Inc., which has 180,000 subscribers, giving the group a 45 percent share of the Philippine cable TV market. The transaction cost the Lopez group P3.5 billion, which would be financed through equity and borrowings.
“Even with Destiny, our capex won’t change. We are maintaining it at roughly P1 billion which is about the same as last year,” said Carlo Katigbak, SkyCable managing director.
The Lopez-owned company has converted 95 percent of its Metro Manila subscribers to the digital format. “Hopefully, by end of the year the shift from regular cable TV to digital TV would have reached 100 percent,” Katigbak said.source: interaksyon.com
