THE High Court’s Third Division affirmed earlier decisions of both the Regional Trial Court and the Court of Appeals to dismiss GMA Network, Inc. complaint against ABS-CBN Broadcasting Corp. over alleged defamatory statements tied to a long-running dispute on television ratings manipulation.
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ABS-CBN Corp. sank deeper into the red in the first half as its net loss more than doubled amid a sharp drop in revenues, with its cable TV and broadband businesses taking much of the blame.
The Lopez Family-led media company reported on Monday a consolidated net loss of P1.83 billion from January to June, more than twice the P852 million loss recorded in the same period last year.
Consolidated revenues slid 17 percent to P6.88 billion, with Cable TV and Broadband accounting for most of the decline.
Cost-cutting efforts offered some relief, but were not enough to keep losses from ballooning. Consolidated operating expenses fell 5 percent, or P482 million, to P8.46 billion.
ABS-CBN's Content Production and Distribution business, a key pillar of the company's post-franchise operations, also saw revenues fall 9 percent to P5.76 billion in the first half.
The company attributed the decline in advertising revenues partly to a tough comparison with 2025, when election-related advertising provided an additional boost. ABS-CBN also pointed to global developments that weighed on consumer sentiment and the domestic economy this year.
The first-half entertainment calendar was also thinner than a year ago, when BINI's sold-out concert at the Philippine Arena and the strong performance of the movie "My Love Will Make You Disappear" helped prop up revenues.
Higher consumer sales as well as growth in international syndication and co-productions partly cushioned the decline.
Beneath the weaker topline, ABS-CBN saw some improvement in its core content business.
Stripping out political advertising and one-off items in both years, the segment's recurring net loss improved by 1 percent, while recurring earnings before interest, taxes, depreciation and amortization rose 2 percent.
ABS-CBN is now looking to a busier entertainment slate to help turn the tide in the second half.
Star Cinema released "Tayo Sa Wakas" in May, while BINI kicked off its world tour in June following the group's strong showing at the Coachella Valley Music and Arts Festival in April.
“The tour runs through the second half, and the rest of the film and live events slate is still to come. Revenues are expected to improve over the balance of the year,” ABS-CBN said.
