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ABS–CBN Corporation (PSE: ABS and ABSP; ABS-CBN: "Alto Broadcasting System-Chronicle Broadcasting Network") is a Philippine-based multi-media conglomerate. It is the country's first and largest integrated media and entertainment company with 42 subsidiaries, 12 divisions and an asset base on more than PHP34 billion (US$707.09 million) as of March 2009.
ABS-CBN is principally involved in television and radio broadcasting, as well as the production of television programming for domestic and international audiences and other related businesses.
It was founded on June 13, 1946 (62), becoming Asia's first commercial television broadcaster in 1953. It is part of the Lopez Group of Companies. It also broadcasts content to the rest of the world through The Filipino Channel (via cable), TFC Direct (direct-to-home satellite), TFCko (IPTV video on demand) and TFCnow internet TV. And just recently, Sky Broadband and Bayan Telecommunication launched "i Wantv!", a free internet service created to answer the growing demand of television entertainment. It incorporates some of ABS-CBN's top rating shows.
The network's main broadcast facilities, news headquarters, transmitter and satellite operations and studio complex are located at the ABS-CBN Broadcasting Complex at Sgt. Esguerra Ave., Mother Ignacia St., Barangay Laging Handa, Diliman, Quezon City. In Metro Manila, its terrestrial VHF station is Channel 2 (DWWX-TV) while its terrestrial UHF station is Studio 23 (DWAC-TV). It boasts its technical capabilities as well as its advance and sophisticated facilities that no other media company in Southeast Asia has to offer.
On March 3, 2008, Executive Vice-President Charo Santos-Concio had been promoted as the fifth president of ABS-CBN, taking over from interim president Eugenio Lopez III.
On the recent ABS-CBN Stockholders Meeting last May 27, 2010, the multimedia conglomerate changed its name after dropping "Broadcasting" in its corporate name, a response to the changes in the media landscape brought about by technology, said ABS-CBN chairman and chief executive officer Eugenio "EL3” Lopez III. "The media business has gone beyond merely broadcasting to encompass other platforms,” EL3 said. ABS-CBN has interests in radio, free-to-air and cable television, movie production, publishing, and online news and content distribution service.
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