Cignal TV and Radius Telecoms announced Tuesday that it would be launching a new pay-TV and home internet service called RED Broadband.
Radius Telecoms is a subsidiary of Meralco, which is part of Manny Pangilinan-led Metro Pacific Investments Corp.
Cignal is a subsidiary of MediaQuest Holdings under the PLDT Beneficial Trust Fund, also part of the Pangilinan conglomerate.
Radius Telecoms COO Jenevi L. Dela Paz, MERALCO President, and CEO Atty. Ray C. Espinosa, Radius Telecoms President and CEO Exequiel C. Delgado, Cignal TV President and CEO Robert P. Galang, and Cignal TV CFO John L. Andal signed the new partnership.
Radius Telecoms, Inc., is the only telecommunications company in the Philippines that delivers services on an end-to-end fiber optic platform. The RED Broadband was said to be the country’s newest and most reliable broadband internet player.
Cignal TV, Inc., is a Direct-to-Home satellite provider transmitting 120 channels, including free-to-air, SD, and HD channels nationwide. With its partnership with Radius Telecoms, Cignal vowed to bring the best fiber broadband and pay-TV service designed for every household budget.
RED Broadband offers consumers unlimited fiber internet + Pay TV plan for as low as Php 1,299 per month.
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Cignal, Radius Telecoms to launch RED Broadband
Earlier this month, Manny Pangilinan has withdrawn his bid to acquire Sky Cable Corp from the Lopez Group.
“We withdrew from the bidding for ABS-CBN’s SkyCable since there might be a risk local competition authorities might reverse the transaction a year after the effect of Bayanihan 2,” Pangilinan said during a briefing on PLDT’s third-quarter financial results.
Pangilinan’s Cignal directly competes with Sky’s pay TV division, while PLDT’s home broadband division rivals with Sky Fibre.
Meanwhile, ABS-CBN Corp, Sky’s parent company, clarified that Pangilinan’s bid for its paid TV and broadband service unit was unsolicited.
“PLDT’s bid was unsolicited, and withdrawing their bid is their prerogative. This has no impact on the operations of Sky Cable,” said Kane Errol Choa, ABS-CBN Corp Head of Corporate Communications.
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