Solid Group got P1B for selling cable, Internet biz to Sky

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The deal, which was announced on May 12, surprised industry observers who noted that Sky now has near-monopoly of the cable TV industry although not necessarily on the broadband business. Its lone competitor now is a little-known company called Cable Link, formerly known as Paranaque Cable. As in the press announcement which announced the acquisition, Solid Group said it sold its cable and broadband business because it did not have the resources for the ?continuous significant investments? required in the ?pay TV and broadband markets?. “The management of the Company has decided that instead of continuing to fund such huge capital investment, it would rather focus on other evolving businesses such as those in the fields of wireless digital devices and technologies and other prospective projects,” it said in the disclosure. ]]>

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