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Sky Cable acquires Destiny Cable

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SKY Cable Corp. said it has acquired Destiny Cable Inc. (DCI), Solid Broadband Corp. (SBC), and Uni-Cable TV Inc. (UNI).
Under the agreement, SkyCable will purchase the cable TV and broadband internet assets and subscribers of DCI, SBC, and UNI to SKY.
“We are happy with the opportunity to extend the unique advantages of the digital cable TV and cable broadband internet platforms to Destiny and MyDestiny subscribers," Rodrigo P. Montinola, Sky chief operating officer said.

"As we plan these out, we will take extra care not to disrupt the existing services of the current subscribers – they will continue to pay same monthly fees for their subscribed plans, at the same payment centers, and can continue to reach Customer Service at the same numbers. We will make announcements on new services to be made available, at the appropriate time,” he said.

David Lim, president of DCI, SBC, and UNI, said the pay TV and broadband markets require continuous significant investments "if we are to keep up with our major competitors, particularly the direct-to-home satellite (DTH) and telco companies."

"We are gratified by the loyalty of our Destiny Cable subscribers and MyDestiny broadband subscribers all these years, and would always want to give them the best products and services possible. However, Lim said the company realized that this will entail resources, for digitizing our cable network and expanding our broadband services, that we do not have. We believe our agreement with SKY will allow subscribers to enjoy the benefits of the latest technologies,” he said.

Lim also mentioned that “our tie up with SKY came at an opportune time as it allows us to focus on our other core businesses.” Our holding company Solid Group Inc. (SGI), markets and distributes the leading Filipino mobile phone brand MyPhone.”

by: PNA




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