The Companies

ABS-CBN Corporation
ABS-CBN Corporation (ABS) is a media and entertainment organization in the
Philippines. The Company is primarily involved in television and radio broadcasting as well as in
the production of television and radio programming for domestic and international audiences and
other related businesses. ABS has business interests in merchandising and licensing; mobile and
online multimedia services; glossy magazine publishing; video and audio post production;
overseas telecommunication services; money remittance; cargo forwarding; TV shopping
services; theme park development and management; property management; and food and
restaurant services.
The Company operates three segments: 1.) TV and Studio which is comprised of
broadcast, global operations, film and music production, cable channels and publishing; 2.) Pay
TV Networks which include Sky Cable Corporation and iWantv; and 3.) new businesses which
include wireless telecommunication services offered through ABS-CBN Convergence, Inc. and
in partnership with Globe Telecom; the launch of digital terrestrial television which will help
pave way for the Company's transition from analogue to digital; and investment in a theme park
known as KidZania Manila.
In November 14, 2013 the consolidated net income of ABS-CBN Corporation
(ABSCBN or the Company) (PSE: ABS, ABSP), the countrys largest media and
entertainment company , registered P1.891 billion for the first nine months of 2013, an increase
of 22% compared with P1.555 billion in the same period last year. The growth in income was
fuelled by strong regular advertising revenues as well as electionrelated ads. ABS-CBN
generated consolidated revenues of P25.227 billion from advertising and consumer sales, a 16%
increase compared to last year.
Advertising revenues reached P14.773 billion, an increase of 20% from a year ago.
Consumer sales amounted to P10.454 billion, posting an 11% increase. SkyCable continues to be
a major driver of growth with revenues increasing by 21% to P4.980 billion. The growth in
SkyCable revenues is partly attributable to the acquisition of Destiny Cable.
Total costs and expenses increased by 15% to P22.749 billion brought about by increases
in production costs, cost of sales and services , and general and administrative expenses. Capital
expenditure and film and program rights acquisition amounted to P2.810 billion, 20% lower than
last year.

In August 13, 2014 ABS-CBN Corporation reported PHP16.4 billion consolidated

revenues for the first half of 2014, bringing its net income to PHP995 million, around 44%
higher compared to the same period last year after removing the effect of election-related ad
spending. The company reported steady second quarter revenues of PHP8.2 billion - almost
identical to the revenues generated during the first quarter of this year.
I am pleased with our overall performance for the first half of the year, and I am
confident that we will be able to achieve our full-year financial targets, said Aldrin Cerrado, the
companys Chief Financial Officer. Channel 2 continues to dominate strongly in terms of
national audience shares and ratings, Star Cinemas performance at the box office was excellent,
and Skycable has grown both its cable and broadband businesses, added Cerrado. Our Global
business has been solid, and we have been able to reach our fellow Kapamilya overseas through
events such as ASAP Dubai and OK Go in Canada and various other countries.
The company reported that its costs and expenses were lower compared to the same
period last year, while total assets rose to PHP64.8 billion as of the end of June 2014 from
PHP58.0 billion as of end last year. Its equity base rose to PHP26.2 billion from PHP25.9 billion
in 2013.
In Feb 12, 2015 ABS-CBN, the country's leading multimedia conglomerate, officially
launched ABS-CBNTVplus, the newest and biggest innovation on Philippine TV that promises
to transform Filipinos TV viewing experience by providing them a richer and clearer picture and
sound.
The box delivers dramatically clear picture and sound that is comparable to seeing a
movie on DVD, a far cry from the prevailing analog system. ABS-CBN TVplus also airs four
more exclusive free-to-air channels that cater to different audiences, plus all the free TV channels
available via digital transmission.

The following graph shows the one year fluctuations in the stock price of ABS-CBN
Corporation. .

Status

Open

Market Capitalization

Issue Type

Common

Outstanding Shares

850,801,081

ISIN

PHY0006V1080

Listed Shares

872,122,352

Listing Date

Jul 08, 1992

Issued Shares

872,123,642

Board Lot

10

Par Value

1.00

Last Traded Price

60.00

50,707,744,427.60

Free Float Level(%)

44.61%

Foreign Ownership Limit(%)

Open

60.40

Previous Close and Date

0%
59.60 (Sep 30, 2015)

Change(% Change)
Value
Volume
52-Week High

up 0.400 (0.67%)

High

60.40

P/E Ratio

5,623,316.00

Low

59.80

Sector P/E Ratio

91,710

Average Price

61.32

Book Value

66.00

52-Week Low

42.00

P/BV Ratio

GMA Network, Inc.

Incorporated on June 14, 1950, GMA Network, Inc. (GMA7) is a free-to-air media
broadcasting company principally engaged in television and radio broadcasting, the production
of programs for domestic and international audiences, and other related businesses.
GMA7's subsidiaries and affiliates are involved in media-related services such as movie
making, sets and props construction, film syndication, music and video recording, new media,
online gaming, post production services and marketing, which complement the Company's core
television and radio broadcasting business.
The Company's subsidiaries are composed of GMA New Media, Inc.; Citynet Network
Marketing and Productions, Inc.; GMA Network Films, Inc.; GMA Worldwide (Philippines),
Inc.; RGMA Marketing and Productions, Inc. (GMA Records); Scenarios, Inc.; Script2010, Inc.;
Alta Productions Group, Inc.; GMA Marketing & Productions, Inc.; Digify, Inc. and Mediamerge
Corporation. The Company is also invested in joint venture companies including INQ7
Interactive, Inc.; Philippine Entertainment Portal, Inc.; and Gamespan, Inc. The Company's
affiliates include Mont-Aire Realty and Development Corporation; and RGMA Network, Inc.
In November 18 2013 GMA network, Inc. (GMA) reported consolidated revenues of
P9.752 billion for the first nine months of 2013, up 4 percent from last year. Airtime sales
reached P8.866 billion, surpassing last years performance by 5 percent on account of improved
advertising sales across major revenue platforms.
Operating expenses grew 7 percent to P7.601 billion due to the increase in production
costs as a means to constantly diversify and strengthen content; compounded by non- recurring
election related expenses recorded earlier this year. General and administrative expenses, on the
other hand, reported flat growth in between periods.
GMA thus, ended the nine month with an EBITDA 9earnings before interests, taxes,
depreciation and amortization) of P 3.138 billion or 3 percent higher than 2012, while net income
settled at P1488 billion, showing a 6 percent decline over a year ago.
In November 14, 2014 GMA network reported a net income of P422 million in Q3 2014,
up 66% versus the previous quarter.
Consolidated revenues for Q302014 stood at P3.141 billion, representing an 8%
improvement over the P2.915 billion generated in Q2. Both airtime revenues and gross earnings
from other businesses posted positive results and contributed to the increase in the topline.
In August 6, 2015 broadcast giant GMA Network, Inc. (GMA) reported a net income of
P1.099 billion for the first half of 2015, up 89 percent over the same period last year. Revenues

during the six-month period increased by 15 percent to P6.653 billion, boosted by the Networks
record-breaking performance in the second quarter.
The companys second-quarter top-line climbed 25 percent to P3.647 billion, while net
income soared by a remarkable 170 percent to P690.7 million mainly on higher advertising
revenues. In the first semester alone, we have not only breached the one billion-peso mark in
terms of net income but have also exceeded last years full year bottom-line performance by at
least P89 million. We are optimistic that the rest of 2015 will also bring positive results for our
company, said GMA Chairman and CEO Felipe L. Gozon.
Operating expenses from January to June slightly grew by 3 percent to P5.051 billion as
total production cost and general and administrative expenses (GAEX) increased by 4 percent
and 1 percent, respectively, year-on-year. EBITDA (earnings before interest, taxes, depreciation,
and amortization) settled at P2.410 billion, 54 percent higher compared to the previous year.

The following graph shows the one year fluctuations in the stock price of GMA Network,
Inc.

Status

Open

Market Capitalization

21,510,700,800.00

Issue Type

Common

Outstanding Shares

3,361,047,000

ISIN

PHY2728W1090

Listed Shares

3,364,692,000

Listing Date

Jul 30, 2007

Issued Shares

3,364,692,000

Board Lot

100

Free Float Level(%)

Par Value

1.00

Foreign Ownership Limit(%)

Last Traded Price

Change(% Change)
Value
Volume
52-Week High

6.46

24.84%

Open

6.40

Previous Close and Date

up 0.060 (0.94%)

High

6.50

P/E Ratio

47,960.00

Low

6.40

Sector P/E Ratio

7,400

Average Price

6.48

Book Value

7.79

52-Week Low

5.95

P/BV Ratio

0%
6.40 (Sep 30, 2015)