ABS-CBN Corporation
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 Filipino 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. ABS-CBN was formed by the merger of Alto Broadcasting System (ABS) and Chronicle Broadcasting Network (CBN).
The ABS-CBN Broadcasting Center in Diliman, Quezon City | |
Trade name | ABS-CBN |
|---|---|
| Formerly |
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| Company type | Public |
Traded as | PSE: ABS |
| Industry | Radio broadcasting Mass media Entertainment |
| Founded | June 13, 1946 |
| Founders | |
| Headquarters | ABS-CBN Broadcasting Center, Sgt. Esguerra Avenue corner Mother Ignacia Street, Diliman, Quezon City, Metro Manila, Philippines |
Area served | Worldwide |
Key people |
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| Products | Films Music Television program Web portal |
| Brands | Kapamilya Channel Kapamilya Online Live A2Z ABS-CBN TV Plus DWPM/TeleRadyo Serbisyo ANC Cine Mo! Jeepney TV Cinema One Myx Metro Channel TFC iWantTFC |
| Services | Broadcasting Motion pictures TV production Cable television Internet Streaming service Broadcast syndication Record label Telecommunications Satellite television Film distribution |
| Revenue | ₱19.20 billion (2022) |
| ₱−2.30 billion (2022) | |
Net income | ₱−2.64 billion (2022) |
| Total assets | ₱49.95 billion (2022) |
| Total equity | ₱11.42 billion (2022) |
| Owner |
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Number of employees | 5,701 (2022) |
| Parent | Lopez Holdings Corporation |
| Divisions |
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| Subsidiaries | List of subsidiaries |
| Website | abs-cbn |
| Footnotes / references | |
ABS was founded in 1946 by American electronics engineer James Lindenberg as Bolinao Electronics Corporation (BEC). In 1952, BEC was renamed Alto Broadcasting System (ABS) with its corporate name, Alto Sales Corporation after Judge Antonio Quirino, brother of President Elpidio Quirino, purchased the company and later launched the first TV station in the country, DZAQ-TV on October 23, 1953. The company that would later be merged with ABS to form ABS-CBN was founded in 1956 as Chronicle Broadcasting Network, Inc. (CBN) by 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.
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.