#Sky Cable Acquisition

Sky Cable has recently announced it is buying competing cable TV and internet provider Destiny Cable as well as Solid Broadband Company and UNI-Cable TV. This makes Sky Cable and even bigger and more dominant player in the cable TV market. Sky Cable currently has around half a million subscribers in the Philippines. Sky Cable plans to roll out their service later on (probably once subs are up for their annual renewals). The entire deal is estimated to cost Sky Cable a whooping Php3 billion. [caption id="attachment_350158" align="alignnone" width="720"] PLDT SkyCable[/caption] The Philippine Competition Commission (PCC) has given its approval to the acquisition of Sky Cable by the telecommunications giant PLDT, a process initiated last year. The antitrust body granted its endorsement to the transaction last Friday, as reported by ABS-CBN, the parent company of Sky Cable, on Monday. Sky Cable, in the midst of this deal, assured its customers on its website that broadband and cable TV services would continue uninterrupted while awaiting the necessary regulatory approvals. Read more in our articles including "Sky Cable buys Destiny Cable, SBC and UNI" and "Official: PLDT completes acquisition of Sky Cable for P6.75 Billion".