Courts Lifts Garnishment Over ABS-CBN & SKY Cable Assets

ABS CBN and Sky Cable received an ex-parte writ of attachment and notice of garnishment from the Mandaluyong Regional Trial Court on Thursday, 25 May 2017, in connection with the collection complaint of Solar Entertainment Corporation. 

ABS-CBN and Sky Cable immediately filed a motion to lift the attachment and garnishment on the morning of May 29, which the court granted on the same day. 

Thus, at this time, there is no effective attachment or garnishment over any asset of ABS-CBN or Sky Cable. 

In 2014, ABS-CBN and Solar jointly entered into a license agreement with NBA Properties Inc. Since ABS-CBN was paying 60 percent of the license fees, it considered that the same already covered the carriage fees of Sky Cable. Unfortunately, Solar disagreed. Despite the good faith attempts of ABS-CBN and Sky Cable to resolve the dispute amicably, Solar cut off the NBA feed to Sky Cable and filed this complaint. 

We will submit our answer with counterclaims to this complaint. 

We are confident we will prevail.

About ABS-CBN Corporation

ABS-CBN Corporation is the Philippines’ leading media and entertainment organization. The Company is primarily involved in television and radio broadcasting, as well as in the production of television and radio programming for domestic and international audiences and other related businesses. ABS-CBN produces a wide variety of engaging world-class entertainment programs in multiple genres and balanced, credible news programs that are aired on free-to-air television. The company is also one of the leading radio broadcasters, operating eighteen radio stations throughout the key cities of the Philippines. ABS-CBN provides news and entertainment programming for eight channels on cable TV and operates the country’s largest cable TV service provider. The Company also owns the leading cinema and music production and distribution outfits in the country. It brings its content to worldwide audiences via cable, satellite, online and mobile.  In addition, ABS-CBN has business interests in merchandising and licensing, mobile and online multimedia services, glossy magazine publishing, video and audio post production, overseas telecommunication services, money remittance, cargo forwarding, TV shopping services, theme park development and management, property management and food and restaurant services, and cinema management, all of which complement and enhance the Company’s strength in content production and distribution. The Company is also the first TV network in the country to broadcast in digital. In 2015, it commercially rolled out its digital TV box, ABS-CBN TVplus, to prepare for the country’s switch to digital TV.

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