With impending Bayan purchase, Globe looking at providing original content

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At press briefing following its annual stockholders meeting in Makati City, Globe CEO Ernest Cu said the company is looking at the content delivery model of Bayan, which is currently a sister firm of broadcast giant ABS-CBN under the Lopez Group. Cu, however, did not elaborate on the plan as Globe has yet to formally acquire Bayan, which is still under court rehabilitation. If pursued, the Globe-Bayan-ABS-CBN alliance is expected to counterbalance the offering of Smart-PLDT-TV5 group. At the event, Globe reported that its service revenues in 2012 reached a new record high of P82.7 billion, a 6-percent rise from a year earlier. The company also hiked its dividend payout by 3 percent and vowed to distribute 75 percent to 90 percent of the company?s previous year?s core net profit. Core net profit, which excludes the effects of accelerated depreciation, foreign exchange, mark-to-market charges and non-recurring items, posted a growth 2 percent to P10.3 billion in 2012 from a year earlier. As part of its network modernization program, Globe also said it has already completed the first phase of network transformation which involves a complete change-out of equipment. Additional areas have also been identified for the company?s network transformation in tandem with planned expansion of its fourth-generation coverage footprint. ]]>

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