Sky Vision Corporation was incorporated on March 25, 1991 and started commercial operations on February 1, 1992. The economic interest of Benpres in Sky Vision stood at 65.3% as of December 31. 2008. Sky Vision owns and operates cable television service providers which offer the brands SKYCable and SunCable. The major cable companies under Sky Vision are Sky Cable Corporation (formerly Central CATV, Inc.) for Metro Manila and Pilipino Cable Corp. for 22 provincial systems nationwide.
In 2001, the Benpres Group signed a Master Consolidation Agreement (MCA) with the Philippine Long Distance Telephone Company or PLDT Group. The parties signed an Amendment Agreement in 2005, and a Memorandum of Agreement in 2008. Under said agreements, the economic interest of the PLDT Group in Home Cable and the Benpres Group's shares in Sky Vision would be consolidated into Sky Cable Corporation.
The move is expected to spur the development of the cable TV industry in the country, rationalize infrastructure development, lower programming costs and provide a wider range of programming choices for viewers. It will also make possible the introduction of new cable TV technology that will enable customers to enjoy richer content and a growing array of convergent services.
- EBITDA grew to P911 million from P874 million
- Consolidated net profit of P112 million
- Invested in “triple-play” service to offer the fastest residential broadband internet (SkyBroadband), the best priced international direct distance calling service (SkyVoice) and the clearest digital TV service (SkyCable) all in one package