ABS-CBN Corporation facts for kids
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The ABS-CBN Broadcasting Center in Diliman, Quezon City
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Trade name
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ABS-CBN |
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Formerly
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| Traded as | PSE: ABS |
| Industry | Radio broadcasting Mass media Entertainment |
| Founded | June 13, 1946 |
| Founders |
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| Headquarters | ABS-CBN Broadcasting Center, Sgt. Esguerra Avenue corner Mother Ignacia Street, Diliman, Quezon City, Metro Manila, Philippines |
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Area served
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Worldwide |
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Key people
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| Products | Films Music Television program Web portal |
| Brands | Kapamilya Channel Kapamilya Online Live A2Z ABS-CBN TV Plus DWPM/TeleRadyo Serbisyo ANC Cine Mo! Jeepney TV< Cinema One Myx Metro Channel TFC iWantTFC |
| Services | Broadcasting Motion pictures TV production Cable television Internet Streaming service Broadcast syndication Record label Telecommunications Satellite television Film distribution |
| Revenue |  ₱18.51 billion (2023) |
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Operating income
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 ₱−12.59 billion (2023) |
| ₱−12.83 billion (2023) |
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| Total assets |  ₱53.10 billion (2023) |
| Total equity | ₱9.23 billion (2023) |
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Number of employees
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5,279 (2023) |
| Parent | Lopez Holdings Corporation |
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| Subsidiaries | List of subsidiaries |
ABS-CBN Corporation is a big media company in the Philippines. It is based in Quezon City, Metro Manila. This company is known for being the largest radio broadcaster and TV show producer in the Philippines. It is part of Lopez Holdings Corporation, which is owned by the López family. ABS-CBN was created when two companies, Alto Broadcasting System (ABS) and Chronicle Broadcasting Network (CBN), joined together.
ABS was started in 1946 by an American engineer named James Lindenberg. His company was first called Bolinao Electronics Corporation (BEC). In 1952, BEC became Alto Broadcasting System (ABS). This happened after Judge Antonio Quirino bought the company. He then launched the first TV station in the Philippines in 1953. The other company, CBN, was founded in 1956 by Eugenio Lopez Sr. and his brother Fernando Lopez. A year later, the Lopez brothers bought ABS. The name ABS-CBN was first used on TV in 1961.
The company officially became ABS-CBN Broadcasting Corporation in 1967. Later, in 2008, its main name changed to ABS-CBN Corporation. This change showed that the company was growing beyond just broadcasting. It was now involved in many other types of media. In 1992, ABS-CBN shares were first traded on the Philippine Stock Exchange.
In recent years, ABS-CBN faced a challenge when the Philippine Congress did not renew its free-to-air broadcasting license. Because of this, the company now mostly focuses on creating content. This includes making TV shows, movies, and other entertainment. They also distribute these shows and films.
Contents
History of ABS-CBN: How It Started
The company began on June 13, 1946. It was first known as Bolinao Electronics Corporation (BEC). James Lindenberg, an American engineer, started BEC. He is seen as one of the people who helped bring television to the Philippines. In 1949, Lindenberg started radio broadcasting with station DZBC. He also helped bring TV to the country in 1953.
In 1951, Lindenberg worked with Antonio Quirino. Quirino was the brother of the president at that time, Elpidio Quirino. They wanted to try TV broadcasting. In 1952, BEC changed its name to Alto Broadcasting System, or ABS. The name "Alto" came from the first names of Quirino and his wife, Tony and Aleli. Even with little money, ABS built its TV tower by July 1953. They also brought in about 300 television sets. Test broadcasts started in September of that year. The first full TV broadcast was on October 23, 1953. The TV station was called DZAQ-TV.
On June 16, 1955, a law was signed that allowed the Manila Chronicle to start its own broadcasting network. This led to the creation of the Chronicle Broadcasting Network.
The Chronicle Broadcasting Network (CBN) was founded on September 24, 1956. It was started by Eugenio Lopez Sr. and his brother Fernando Lopez. Fernando Lopez was the Vice President of the Philippines then. CBN first focused only on radio. It launched its own TV station, DZXL-TV 9, in 1958. In 1957, Don Eugenio bought ABS from Quirino and Lindenberg. He also bought Monserrat Broadcasting System that same month.
In 1958, the network opened its new main offices. All radio and TV operations moved to two buildings. Radio stations were at the Chronicle Building in Intramuros, Manila. TV operations were in a new building in Pasay, Rizal.
The name ABS-CBN was first used in 1961. But the company's official name changed to ABS-CBN Broadcasting Corporation on February 1, 1967. Before that, it was called Bolinao Electronics Corporation (BEC).
On October 1, 2008, the company's main name changed to ABS-CBN Corporation. This happened during the 55th anniversary of the television network. The word "Broadcasting" was removed from the main name. This showed that the company was doing more than just broadcasting. The chairman, Gabby Lopez, said in 2010 that the change was because of new technology. He said the media business was now more than just broadcasting. It included many other ways to share content.
YouTube Channel Hacking Incident
On November 3, 2020, the YouTube channels for ABS-CBN News and ANC 24/7 were temporarily taken down. This was thought to be due to a "violation of YouTube's Terms of Service." However, YouTube later confirmed that hackers had targeted the channels. Both channels were brought back online on the same day.
What ABS-CBN Owns and Does
ABS-CBN Corporation owns many media and entertainment companies in the Philippines. They offer many services and products. These include radio, cable and satellite TV, broadcast syndication (sharing shows with other stations), telecommunications, and publishing. They also create and distribute content, TV shows, and films.
ABS-CBN also works with new media and digital platforms. They have talent agencies, pay TV services, and broadband internet. They sell products and merchandise. They also have music labels and theater productions.
The group owns and runs the general entertainment channel Kapamilya Channel. They also have the English news channel ANC. They operate the AM radio station DWPM and the Filipino news channel TeleRadyo Serbisyo. These are part of a joint project with Prime Media Holdings. They also have the digital radio platform MOR Entertainment. The Kapamilya Channel brings in most of the company's money by selling ad time. Other money comes from selling shows to other networks and from consumer sales. This includes sales from ABS-CBN Global Ltd. and ABS-CBN International. These groups distribute international TV channels like TFC HD and Myx Global. Money also comes from the pay TV and internet provider Sky Cable Corporation.
Other companies under ABS-CBN include:
- Film companies like Star Cinema, Cinema One Originals, Cine Bro, and Black Sheep Productions.
- TV production companies like ABS-CBN Studios, Dreamscape Entertainment, and Star Creatives.
- Music labels under ABS-CBN Music, like Star Music and Tarsier Records.
- Publishing companies like ABS-CBN Publishing.
- Talent agencies like Star Magic.
- Online platforms like iWant TFC and Kapamilya Online Live. These are part of ABS-CBN Digital Media.
- The ABS-CBN Philharmonic Orchestra.
- ABS-CBN Studios, Inc., which runs their production places, including the ABS-CBN Soundstage in Bulacan.
- Their theater group, Teatro Kapamilya.
ABS-CBN also owns other properties used for its operations.
See Also
- History of ABS-CBN
- List of ABS-CBN Corporation subsidiaries
- List of real estate properties owned by ABS-CBN
Images for kids
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Logo since 2014
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The ABS-CBN Broadcasting Center in Diliman, Quezon City
