Manila, Philippines – Cable television service Sky Cable is set to make its final broadcast on February 26 following the approval of the Philippine Competition Commission (PCC) to PLDT to acquire Sky Cable.
In a text advisory sent out to its users, Sky Cable said that it will officially discontinue its cable TV business following its last broadcast day and in anticipation of the PLDT acquisition. Said advisory is also reflected in its official website.
“In anticipation of and pursuant to the closing conditions of the PLDT-SKY acquisition deal, SKY will now begin its transition into a dedicated internet service provider. With this deal, SKY will discontinue its cable TV operations effective February 27, 2024. The final broadcast and sign-off of SKYcable will be on February 26, 2024 at 11:59pm,” the company stated.
It is worth noting, however, that SKY Fiber will still continue operations, with the company promising that subscribers will be provided with the same level of service and customer experience.
“Thank you for your years of support and for making SKYcable a part of your home,” the company concluded.
Recent stock filings by ABS-CBN, the parent company of Sky Cable, and PLDT that the Philippine Competition Commission has already approved the acquisition, and is now subject to closing conditions and final approval through a disclosure to the Philippine Stock Exchange (PSE) by March 16.
Last week, PLDT clarified news about the acquisition following media reports suggesting that the Sky Cable acquisition had already been closed by both parties.
“Once the approval of the PCC is obtained, the sellers will continue to work on the other closing conditions which include, among others, the termination or cessation of Sky’s pay TV and cable businesses, obtaining all other applicable government approvals and clearances, and obtaining all required consents and corporate actions,” it previously said.
Details about the merger first came into light when ABS-CBN, the parent company of Sky Cable, signed an agreement with PLDT back in March 2023 to sell off fully the business to PLDT. It is also worth noting that Cignal, the media firm under PLDT’s MediaQuest affiliate, had already a 34.99% stake in Sky Cable, which materialised back in 2022.
