Lopez-led ABS-CBN Corp. has secured P6 billion in new financing to fund existing debt and fuel the network’s growth.
The media network on Friday told the local bourse it has obtained a seven-year loan term agreement worth P6 billion from the Bank of the Philippine Islands.
“The loan shall be used to refinance maturing debt and for other general corporate requirements,” Ricardo Tan, Jr., corporate treasurer at ABS-CBN, said in the filing.
Meanwhile, ABS-CBN and rival GMA Network Inc. both released statements on Friday claiming leadership in the television ratings game for the month of February.
The Kapamilya network said data from media research firm Kantar Media showed it enjoyed an average national audience share of 46 percent, 13 points higher compared to GMA’s 33 percent.
GMA, on the other hand, cited data from Nielsen TV Audience Measurement showing it surpassed ABS-CBN by 5.7 percent in total day people audience share based on the National Urban Television Audience Measurement (NUTAM).
Highlighting the respective segments where they excelled, ABS-CBN said it continued to dominate areas such as Metro Manila, where it recorded an audience share of 40 percent versus GMA’s 28 percent; in Total Luzon where it received 42 percent against the Kapuso network’s 35 percent; in Total Visayas where it garnered 56 percent, higher than GMA’s 27 percent; and in Total Mindanao where it reached 52 percent versus the 31 percent of GMA.
On its primetime block, ABS-CBN recorded 51 percent audience share compared to GMA’s 31 percent; its morning block got 39 percent versus GMA’s 32 percent; on the noontime block it garnered 44 percent against GMA’s 36 percent; and in the afternoon block 42 percent versus GMA’s 39 percent.
Meanwhile, GMA said it remained unbeatable in the morning and afternoon blocks in NUTAM, registering 42.5 percent versus the competitor’s 33.7 percent, and 48.4 percent against ABS-CBN’s 35.3 percent, respectively.
It added it won across all day parts in both Urban Luzon and Mega Manila, respectively covering 76 percent and 59 percent of all urban viewers in the country.
In Urban Luzon, GMA posted a total day people audience share of 49.1 percent against its rival network’s 31.4 percent.
In Mega Manila, the Kapuso Network said it beat ABS-CBN with a 52.1 percent total day people audience share compared to the latter’s 27.6 percent.