Thursday 27 June
Apr 25, 2019 @ 15:40

Shareholders greenlight ABS-CBN’s entry into food, cosmetics, ecommerce

 

Change isn’t always easy but sometimes necessary.

ABS-CBN’s Lopezes powering Manila’s Uber-like helicopter service

Given a highly competitive and rapidly shifting media landscape, the Lopez family’s ABS-CBN Corp. is building new revenue streams to ensure its continued growth.

ABS-CBN shareholders approved today the company’s diversification into the beauty, restaurant, and e-payment businesses.

ABS-CBN wins $27M damage suit vs pirate sites

For the e-wallet service, the media conglomerate is investing P51 million in a joint venture with iBayad Online Ventures.

The new corporation will have an initial capitalization of nitially P100 million.

ABS-CBN sells 7M TVPlus boxes

The cosmetics venture, on the ther hand, will be in partnership with businessman Dioceldo Sy’s Ever Bilena.

ABS-CBN and Ever Bilena Cosmetics, Inc. are setting up a new company with an initial authorized capital of P10 million. The 50/50 joint venture shall engage in the business of production and sale of affordable and good quality cosmetic products.

ABS-CBN and Ever Bilena agreed to complete conceptualization and launch commercial operations in 54 to 76 weeks.

ABS-CBN partners with Globe, Smart for affordable streaming of shows, movies

As for the food business, ABS-CBN shall form a new company to be called
The Chosen Bun Inc. which shall manufacture and package all kinds of food products and establish and operate, restaurants, coffee shops, and refreshments parlors.

ABS-CBN to open Hollywood-like production hub

Initially capitalized at P1 million, The Chosen Bun will offer healthy and affordable products.

Please follow and like us:
error

Tags: , , , , , , , , , ,

Related Stories
Here's a reward for betting on this bank.
Bayer chief executive Werner Baumann was on the defensive at the German chemical giant's annual
Shareholders in Portugal's biggest company, Energias de Portugal, on Wednesday blocked a nine-billion-euro ($10-billion) takeover
Amazon chief executive Jeff Bezos said Thursday he sees a bright future in the company's


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.