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"ABS-CBN Broadcasting Corporation (PSE: ABS) (ABS-CBN: "Alto Broadcasting System-Chronicle Broadcasting Network"),..."
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Zodiac Sign:
Libra
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About Me:
ABS-CBN Broadcasting Corporation (PSE: ABS) (ABS-CBN: "Alto Broadcasting System-Chronicle Broadcasting Network"), a Philippine multi-media conglomerate, is the largest integrated media and entertainment company in the Philippines with an asset base of more than PHP28 billion (US$613 million) as of current 2007. 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, becoming Asia's first commercial television broadcaster. It is part of the Lopez Group of Companies. It also broadcasts content to the rest of the world through The Filipino Channel.
The network's main broadcast facilities, news headquarters, transmitter and satellite operations and studio complex are located at the ABS-CBN Broadcast Center at 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). The company is slated to begin broadcasting digital television starting in January 2008, although it has been presumably delayed since there were no announcement during the entire month of January that the signal is now digitized. It is now expected to begin its digital broadcasting by the end of 2008.
On March 3, 2008, Executive Vice-President Charo Santos-Concio had been promoted as 5th president of ABS-CBN Broadcasting Corp., taking over from interim president Eugenio Lopez III
Origins
The company traces its beginnings to June 12, 1946, when James Lindenberg, an American engineer established the Bolinao Electronics Corporation (BEC), which specialized in assembling transmitters. Realizing the potential of television in the country, he was the first to apply to for a license in the Congress of the Philippines to estabish a television station in 1949, which was granted a year later. By then, due to the scarcity of raw materials and import controls imposed that time, BEC was compelled to branch into radio broadcasting instead.
In 1952, the late Judge Antonio "Tony" Quirino (1917-1992), brother-then of the late President Elpidio Quirino (1890-1956) who was also looking to set up a television station, bought 70% of BEC and had it renamed Alto Broadcasting System (ABS, with Alto from Antonio Quirino's wife, Aleli and his name, Tony.) Lindenberg, however, remained as part-owner and served as general manager of the station. In 1953 DZAQ-TV 3 (the "AQ" part stands for Antonio Quirino) was introduced as the country's first television channel and made its first broadcast on October 23, 1953.
ABS-CBN News and Current Affairs
After the 1986 EDSA Revolution, the network was first to air a newscast and current affairs show, namely TV Patrol and Probe. The network's news organization suffered from credibility issues, including its alleged partiality in various political issues and the involvement of its former news anchors and network chairman in the political arena. Based on the latest Pulse Asia Survey, ABS-CBN News was the most trusted news station garnering 68 points against its rival network GMA Network, garnering 60 points.
At present, the news organization is headed by former CNN Jakarta and Manila Bureau Chief Maria Ressa. Ressa introduced major organizational changes and reforms, including the drafting of Code of Ethics that is very much benchmarked on international standards. The new Code of Ethics served as the Bible of all the members of the news organization.
ABS-CBN also owns the ABS-CBN News Channel, the only local 24-hour cable news channel in the Philippines.
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