Sky Cable is a cable television service owned by Sky Cable Corporation, a subsidiary of ABS-CBN Corporation. It covers areas across the Philippines with both digital and analog services, and it has 700,000 subscribers.
History[]
Since it started community antenna television system operation in the Philippines on January 26, 1992, SkyCable provides cable Internet, VoIP services and digital cable TV service.
On June 6, 1990, SkyCable Corporation was incorporated via 79.3% stake in Sky Vision Corporation, operator of cable brands, SkyCable and Sun Cable.
On April 18, 1991, Sky Vision Corporation was incorporated and ventures into cable television (SkyCable and Sun Cable), communication, system, television media, shopping network (Sky Mall) and film distribution (Sky Jemah). It is owned 18.8% by ABS-CBN Corporation and 78% by Lopez Inc.
On March 30, 1995, Central CATV Inc. was granted a 28-year provisional franchise to establish, construct, maintain and operated community antenna television system in the Philippines through Republic Act 7969.
In 1997, Sky Vision Corporation acquired 47% of Pilipino Cable Corp., operator of Sun Cable for P900 million.
In 2001, Benpres Holdings Inc. and Philippine Long Distance Telephone Company signed a master consolidation agreement for SkyCable Corporation to consolidate its interest.
In July 2001, Unilink Communications Corp. operator of Home Cable, Philippines second largest cable TV company, merged its CATV operation to SkyCable and created Beyond Cable Inc. with an enterprise value of P14.5 billion. Beyond Cable Inc. controls 66.5% through Benpress Holdings Corp. and 33.5% through MediaQuest Holdings, Inc.
On December 7, 2001, Beyond Cable Holdings Inc. was incorporated.
In May 2011, Singaporean firm Sampaquita Communications Pte. Ltd. acquired 40 percent of SkyCable through Philippine Depositary Receipts worth P3.612 billion and P250 million of convertible notes to fund the expansion of SkyCable's broadband Internet and cable TV services.
On May 11, 2012, SkyCable bought Destiny Cable Inc., Uni-Cable TV Inc. and Solid Broadband Corporation's cable TV and broadband internet assets and subscribers with consolidating value of P3.497 billion.
On March 16, 2023, PLDT announced that it had entered into a sale and purchase agreement to acquire 100% of Sky Cable Corporation from Sky Vision Corporation, ABS-CBN Corporation and Lopez Inc. for ₱6.75 billion. The acquisition will cover Sky's broadband business and related assets, subject to compliance with certain conditions including the termination or cessation Sky's pay TV and cable businesses. The deal is subject to regulatory approvals. While awaiting the required regulatory approvals, Sky's broadband and cable TV services will continue.
On January 22, 2024, ABS-CBN Corporation disclosed that the Philippine Competition Commission allowed the transaction to proceed. The company also announced that parties will now work to close the sale. On January 26, 2023, Sky announced it will discontinue its cable TV operations effective February 27, 2024. The final broadcast and sign-off of SKYcable was originally scheduled for February 26, 2024 at 11:59pm PST. On February 22, Sky decided not to continue with the shutdown and the deal with PLDT.