ABS-CBN of the Philippines has raised 2.5 billion Philippines Pesos (about $60 million) for digital TV expansion. The cash is part of a larger plan, totalling P4 billion (about $95 million), with P1.5 billion of the cash coming from a sister company of current owners the Lopez Group.

However, P2.5 billion will come from a new investor in the form of Capital International Private Equity Fund VI LP, according to a statement to the Manila stock exchange.

ABS-CBN’s CFO says the cash will be spent on the broadcaster’s distribution network, and to fund expansion into digital terrestrial TV.

Other posts by :

1. AST SpaceMobile boss outlines benefits
2. Report: LEO build-out accelerates
3. Germany outlines space commitment
4. Analysis: Impact of AT&T on US telcos and cable
5. Bezos rocket production boosted
6. Musk delays Moon landing until 2027
7. Hughes Satellite facing cash crunch
8. Major banks support AST SpaceMobile
9. Fitch downgrades DirecTV debt

Categories: Articles, Business, DTT/DSO, Funding