Posted at Jul 16 2018 12:17 PM | Updated as of Jul 16 2018 04:59 PM
MANILA – ABS-CBN said Monday it was looking at "more profitable opportunities" in the content business with Globe Telecom, after the two companies agreed to wind down their network sharing agreement.
Following a "thorough assessment," ABS-CBN Convergence found its mobile business model to be "financially unsustainable," leading to the decision not to renew the deal with Globe that was forged in 2013, ABS-CBN told the stock exchange.
The network sharing agreement will expire this year.
"Leveraging on ABS-CBN’s expertise as top content provider to the Filipino audience and the vast reach of Globe as the leading telecommunications company, both companies have decided to shift their focus in maximizing synergies," ABS-CBN said in a disclosure.
ABS-CBN said "promotional synergies" could include bundling of ABS-CBN TVPlus boxes with Globe at Home prepaid WiFi and the availability of ABS-CBN TVplus’ KBO (Kapamilya Box Office) and iWant TV over-the-top services to all Globe subscribers.
ABS-CBNmobile prepaid, postpaid and Sky Mobi subscribers will continue to enjoy text, call, and data services until the final date that will be approved by the National Telecommunications Commission, the company said.