C00249-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jan 17, 2024
2. SEC Identification Number
1803
3. BIR Tax Identification No.
00406761000
4. Exact name of issuer as specified in its charter
ABS-CBN CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
ABS-CBN Broadcasting Center, Sgt. Esguerra Ave. cor. Mother Ignacia Street Quezon City Postal Code 1103
8. Issuer's telephone number, including area code
+63234152272
9. Former name or former address, if changed since last report
Not Applicable
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 899,848,111
11. Indicate the item numbers reported herein
Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

ABS-CBN CorporationABS

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

CLARIFICATION OF NEWS REPORT
Source Bilyonaryo.com
Subject of News Report "MVP-Lopez done deal? ABS-CBN shares soar amid talks PLDT’s purchase of Sky Cable clears anti-competition body"
Date of Publication Jan 16, 2024
Clarification of News Report

We write in reply to the Exchange’s request for clarification to the news article entitled “MVP-Lopez done deal? ABS-CBN shares soar amid talks PLDT’s purchase of Sky Cable clears anti-competition body” posted in Bilyonaryo.com on January 16, 2024, the article reported in part that:

“Will the Lopez family finally pop the champagne bottle with the much-anticipated completion of the sale of ABS-CBN Broadcasting’s cable and broadband arm to bilyonaryo Manny V. Pangilinan’s PLDT?

According to a Babbler, the Philippines Competition Commission (PCC) has reportedly given its approval for PLDT’s 100 percent buyout of ABS-CBN’s Sky Cable.

The P6.8 billion deal has been under scrutiny over the last five months as the PCC assessed whether the merger of major players would result in a significant reduction of competition, particularly in fixed broadband services and pay television services nationwide.

. . . .

The sale of Sky Cable will generate P4 billion, representing ABS-CBN’s 59 percent stake in the company. ABS-CBN plans to use the fresh cash to pay off its maturing debt while concentrating its resources on content creation.

. . . .

The Babbler suggested that the buyout could have significant implications for Sky Cable’s programs, such as ANC (ABS-CBN News Channel), which might transition into a purely online channel as Cignal prefers to boost its own program, ONE News.”

ABS-CBN Corporation (“ABS” or the “Company”) is hereby directed to clarify and/or confirm the information in the above-quoted news article. Also, please disclose relevant information not reported in the news article, if there is any."

The Philippine Competition Commission (PCC) has not completed its review of Sky Cable’s proposed sale of its broadband business and related assets to PLDT. The closing of the transaction is also subject to other conditions. ABS-CBN will disclose material information to update the disclosures earlier made on March 16, 2023 once they become available.
Other Relevant Information

N/A
Filed on behalf by:
Name Paul Michael Villanueva Jr.
Designation Chief Risk Management Officer, Chief Compliance Officer & Head, ABS-CBN Shared Service Center