Philippine TV company closed by Duterte to sell internet arm

MANILA – ABS-CBN, once the largest television company in the Philippines, said on Thursday it will sell its cable and broadband unit to PLDT, the country’s leading telecommunications company, for 6.75 billion pesos ($ 123).

The move is the latest step in the restructuring of ABS-CBN, the 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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