ABS-CBN Corp. announced it will no longer renew its network-sharing deal with Globe Telecom, Inc. to deliver content through its ABS-CBNmobile brand after its five-year agreement expired.
In a disclosure to the stock exchange on Monday, July 16, ABS-CBN said its mobile business is “financially unsustainable,” hence the decision.
“ABS-CBN Convergence and Globe reached an agreement not to renew their mobile network sharing agreement and to look at more profitable opportunities in the content business,” it said.
The two companies have agreed, however, to keep its connections for the TVplus boxes, Kapamilya Box Office and iWant TV offers of ABS-CBN. — Denise A. Valdez