PHILIPPINE Long Distance Telephone Co., said it’s “exploring opportunities” in satellite television services.
Manila-based Philippine Long Distance is interested in expanding, including into satellite, Internet and mobile TV services, it said in a statement to the Philippine stock exchange Wednesday, responding to a media report that it revived discussions on purchasing Philippine Multi-Media Systems Inc. It bought 30 percent of local newspaper BusinessWorld Publishing Corp. in July.
PLDT wants to acquire additional revenue sources as earnings growth slows at its mobile-phone units—which account for two-thirds of sales. Buying media assets may allow the company to develop and sell content, including audio and video, to fixed-line and wireless subscribers.
PLDT offered to buy Philippine Multi-Media’s Dream Satellite TV last year. The bid was rescinded due to pricing differences.
“The PLDT group remains interested in exploring opportunities,” the company statement said without confirming or denying it’s in talks with Philippine Multi-Media.
President Napoleon Nazareno said on May 15 the company may purchase satellite TV operator, GV Broadcasting Systems Inc. Nazareno said the company also plans to tie up with EchoStar Communications Corp., the No.2 satellite TV company in the US. Bloomberg
Business Mirror
September 14, 2006
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