Broadcast network ABS-CBN forays into telecom via Globe

Listed companies ABS-CBN Corp. and Globe Telecom Inc. bared earlier this week that they had signed a P3-billion network sharing agreement.
 
Through the deal, telecom giant Globe will provide ABS-CBN Convergence on nationwide basis capacity and coverage through the telco’s cellular mobile network.
 
The two may also share assets like server towers and switches.
 
ABS-CBN chairman Eugenio Lopez III had said the company through ABS-CBN Convergence Inc. would offer traditional telecom services such as voice calls and short messaging system (SMS) as well as wireless internet to deliver content just like major players Globe and Smart Communications Inc..
 
Regulatory approvals from state-run National Telecommunications Commission (NTC) are still being sought. As such, ABS-CBN’s foray into the telecom business would likely be launched in the second half of the year.
 
Globe president and chief executive officer Ernest Cu had said the partnership with ABS-CBN would create a new market for mobile users for its 35 million subscribers.

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