ABS-CBN Corporation

Source: Wikipedia, the free encyclopedia.
This article is about the Philippine media and entertainment conglomerate. For the television channel, see ABS-CBN.
"ABS-CBN Broadcasting Corporation" redirects here. For other uses, see ABS-CBN (disambiguation).

ABS-CBN Corporation
ABS-CBN
Formerly
  • Bolinao Electronics Corporation (1946–1953, 1957–1967)
  • Alto Sales Corporation (1953–1957)
  • Chronicle Broadcasting Network, Inc. (1956–1957)
  • ABS-CBN Broadcasting Corporation (1967–1972; 1986–2008)[a]
Company typePublic
PSE: ABS
IndustryRadio broadcasting
Mass media
Entertainment
FoundedJune 13, 1946; 77 years ago (1946-06-13)
Founders
Headquarters
Parent
Lopez Holdings Corporation
Divisions
SubsidiariesList of subsidiaries
Websiteabs-cbn.com/corporate
Footnotes / references
[3]

ABS-CBN Corporation (also known alternatively and secondarily since 2008, and formerly primarily from 1967 to 1972 and from 1986 to 2008 as ABS-CBN Broadcasting Corporation) is a

media company based in Quezon City, Metro Manila, Philippines. It is the largest radio broadcaster, entertainment television production, program syndication provider and media conglomerate in the Philippines. It is a subsidiary of Lopez Holdings Corporation, which is owned by the López family.[4]
ABS-CBN was formed by the merger of Alto Broadcasting System (ABS) and Chronicle Broadcasting Network (CBN).

ABS was founded in 1946 by American electronics engineer

Eugenio Lopez Sr. and his brother Fernando Lopez
, who was the sitting Vice President of the Philippines. A year later, the Lopezes acquired ABS. The ABS-CBN brand was first used on television in 1961.

The conglomerate became known as ABS-CBN Broadcasting Corporation on February 1, 1967. It then changed its primary name to simply ABS-CBN Corporation on October 1, 2008 during the 55th anniversary of the television network of the same name dropping the word "Broadcasting" on primary uses, to signify its diversification. Due to the change in the conglomerate's primary name, the ABS-CBN Broadcasting Corporation name is now used as the company's alternative and secondary name in certain contexts. The common shares of ABS-CBN were first traded on the Philippine Stock Exchange in July 1992 under the ticker symbol ABS.[5]

Due to being

denied for another 25-year free-to-air broadcasting franchise by the Philippine Congress, the conglomerate now mainly focuses on working as a content company, which includes producing television programs, films and other entertainment contents and distributions.[6]

History

See also: History of ABS-CBN

The company was founded on June 13, 1946, as Bolinao Electronics Corporation (BEC). BEC was established by James Lindenberg, one of the founding fathers of Philippine television,[7] an American electronics engineer who went into radio equipment assembly and radio broadcasting. In 1949, James Lindenberg shifted Bolinao to radio broadcasting with DZBC and masterminded the introduction of television to the country in 1953.[8]

In 1951, Lindenberg partnered with Antonio Quirino, brother of then-Philippine President Elpidio Quirino, in order to try their hand at television broadcasting. In 1952, BEC was renamed as Alto Broadcasting System or ABS (with Alto Sales Corporation as its corporate name). "Alto" was a contraction of Quirino's and his wife's first names, Tony and Aleli. Though they had little money and resources, ABS was able to put up its TV tower by July 1953 and import some 300 television sets. The initial test broadcasts began in September of the same year. The very first full-blown broadcast was on October 23, 1953, of a party in Tony Quirino's humble abode. The television station was known as DZAQ-TV.[8]

On June 16, 1955, Republic Act No. 1343 signed by President Ramon Magsaysay granted the Manila Chronicle its broadcasting franchise, leading to the formation of the Chronicle Broadcasting Network.[9][10]

The Chronicle Broadcasting Network (CBN) was founded on September 24, 1956, by

Eugenio Lopez Sr. and the then-Philippine Vice President Fernando Lopez. The network initially focused only on radio broadcasting. It launched its very own TV station, DZXL-TV 9, on April 19 (or July[11]), 1958.[8] On February 24, 1957, Don Eugenio acquired ABS from Quirino and Lindenberg. A month later, Don Eugenio also acquired Monserrat Broadcasting System.[12]

In 1958, the network's new headquarters at Dewey Boulevard were inaugurated, and all radio and television operations were consolidated into its two buildings – the radio stations at the Chronicle Building at Aduana Street, Intramuros, Manila and the TV operations at the brand new Dewey Boulevard building in Pasay, Rizal.[8]

The ABS-CBN brand was first used in 1961. However, it was only on February 1, 1967, that the corporate name was changed to ABS-CBN Broadcasting Corporation. Before it was named ABS-CBN Broadcasting Corporation, the corporate name was Bolinao Electronics Corporation (BEC).

On October 1, 2008 during the 55th anniversary of the television network of the same name, the conglomerate's primary name and network's corporate name was changed to simply ABS-CBN Corporation to reflect the former's diversification. According to the conglomerate's chairman Gabby Lopez during its annual stockholders' meeting in May 2010, the change in the name was "a response to the changes in the media landscape brought about by technology. The media business has gone beyond merely broadcasting to encompass other platforms."[13][14]

YouTube hacking incident

On November 3, 2020, the YouTube channels of ABS-CBN News and ANC 24/7 were terminated for several hours, allegedly due to a "violation of YouTube's Terms of Service." It is unclear what the violation was, however, it was later confirmed by YouTube that the channels were targeted by hackers instead.[15] Both channels were reinstated on the same day, at around at 3:58 P.M (PHT).[16][17][18]

Assets and subsidiaries

Main articles: List of ABS-CBN Corporation subsidiaries and List of real estate properties owned by ABS-CBN

ABS-CBN Corporation owns major of media and entertainment companies in the Philippines, and offers services and products such as

Myx Global[21] and also from pay TV and broadband internet provider Sky Cable Corporation
.

Other companies which operate under the ABS-CBN group are motion picture companies under

Kapamilya Online Live. Both iWant TFC and Kapamilya Online Live are under ABS-CBN Digital Media, a new media and digital division under ABS-CBN which also handles news.ABS-CBN.com and ABS-CBN.com. ABS-CBN is also the principal owner of the ABS-CBN Philharmonic Orchestra. It also owns ABS-CBN Studios, Inc. which operates its production facilities nationwide, including the ABS-CBN Soundstage located in Bulacan and Regional production facilities. And the newly relaunched theater arm of ABS-CBN, Teatro Kapamilya.[25]
Aside from the ABS-CBN Soundstage, ABS-CBN also has other real estate properties for the company's operations.

Notes

  1. ^ The name ABS-CBN Broadcasting Corporation is now used as the company's alternative and secondary name after it changed its primary name to ABS-CBN Corporation on October 1, 2008, such as the sign-on and sign-off of ABS-CBN from October 1, 2008 to June 26, 2012, at the end of credits of Maalaala Mo Kaya until the late 2010s, and on some news articles that are related to the network and media conglomerate.
  2. ^ ABS-CBN Corporation is the Philippines' largest media and entertainment conglomerate in terms of assets, revenue, international services, revenue, operating income, net income, assets, equity, market capitalization, and number of employees.

References

  1. ABS-CBN News
    . April 19, 2018. Retrieved April 19, 2018.
  2. ^ a b c PSE Disclosure Form POR-1 (Public Ownership Report) (Report). Philippine Stock Exchange. April 22, 2021.
  3. ^ 2022 Annual Report (Report). ABS-CBN. March 22, 2023. Retrieved March 24, 2023.
  4. ^ For citations about ABS-CBN Corporation being the largest entertainment and media conglomerate in the Philippines:
  5. ^ "ABS-CBN Corporation stock data". PSE EDGE portal. Philippine Stock Exchange. April 13, 2018. Stock Data > Listing Date. Retrieved April 13, 2018.
  6. ^ "ABS-CBN evolves into a content company to produce content for viewers worldwide | ABS-CBN Corporate". ABS-CBN. Retrieved October 30, 2021.
  7. ^ "Farewell to the Father of Philippine Television". ABS-CBN. April 30, 2009. Archived from the original on November 7, 2011. Retrieved May 8, 2011.[self-published source]
  8. ^ a b c d Anastacio, Ellen Joy; Badiola, Janine Natalie (2000). The History of Philippine Television (Thesis). UP-CMC Broadcast Department. Retrieved March 27, 2012.
  9. ^ "R.A. No. 1343". The Corpus Juris. June 16, 1955. Retrieved June 13, 2020.
  10. ISBN 978-971-816-111-1
    .
  11. ^ "Article". news.google.com. Retrieved October 14, 2019.
  12. ^ Rodrigo, Raul (February 28, 2020). "How Don Eugenio Lopez bought ABS from the Quirinos to build a broadcast giant". ANC X. Retrieved July 16, 2022.
  13. Lopez Group of Companies. Archived from the original
    on June 10, 2010. Retrieved July 1, 2012.
  14. ^ Paolo Ramos (director) (2008). Beyond Television (television production). Philippines: Creative Communications Management Group. Archived from the original on December 22, 2021.
  15. One News PH
    . Retrieved November 4, 2020.
  16. ^ "ABS-CBN News' YouTube channel down, account 'terminated'". Rappler. November 3, 2020. Retrieved November 6, 2020.
  17. ^ "Hackers attack ABS-CBN News' YouTube channels". Rappler. November 3, 2020. Retrieved November 6, 2020.
  18. ^ Mercado, Neil Arwin (November 3, 2020). "ABS-CBN News' YouTube account 'terminated'; investigation underway". INQUIRER.net. Retrieved November 6, 2020.
  19. ^ "ABS-CBN Corporation Assets, Divisions, and Subsidiaries". ABS-CBN. ABS-CBN Corporation. Retrieved July 19, 2021.
  20. ^ "Filipino TV Channels | Xfinity". www.xfinity.com. Retrieved April 8, 2021.
  21. ^ "Intelsat 19: 4180 H - LyngSat". www.lyngsat.com. Retrieved April 7, 2021.
  22. ^ ABS-CBN News (June 12, 2018). "Growing family: ABS-CBN Films no longer just Star Cinema". ABS-CBN News. Retrieved April 7, 2021.
  23. ^ Dumaual, Miguel (June 17, 2020). "Reimagining within lockdown limits: Why some shows could go on, some couldn't". ABS-CBN News. Retrieved April 7, 2021.
  24. ^ "Joshua Garcia joins Charlie Dizon, Jameson Blake in TV series Viral". PEP.ph. Retrieved May 14, 2021.
  25. ^ a b "Star Magic, ibibida ang galing ng Pilipino sa mundo | ABS-CBN Corporate". ABS-CBN. Retrieved June 20, 2021.
  26. ^ ABS-CBN News (March 30, 2021). "Tarsier Records launches new acts in 'Class of 2021'". ABS-CBN News. Retrieved April 7, 2021.
  27. ^ "Over 100 Kapamilya stars to stream on Kumu starting March 15 | ABS-CBN Corporate". ABS-CBN. ABS-CBN Corporation. Retrieved April 7, 2021.

Further reading

External links

Wikimedia Commons has media related to ABS-CBN Corporation.
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