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Media & Entertainment

Philippine TV company shut down by Duterte to sell internet arm

ABS-CBN, once country's largest broadcaster, to focus on content creation

ABS-CBN was shut down three years ago by the government under former President Rodrigo Duterte. (File photo by Getty Images) 

MANILA -- ABS-CBN, once the Philippines' largest TV company, said Thursday it will sell its cable and broadband unit to PLDT, the country's top telecom company, for 6.75 billion pesos ($123 million).

The move is the latest step in the restructuring of ABS-CBN, a once-powerful media outlet that was shut down by the government three years ago during the tenure of former President Rodrigo Duterte.

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