According to an advisory posted on its Facebook page, this is part of the closing conditions of the PLDT-SKY acquisition deal, which was approved by the Philippine Competition Commission (PCC) on January 22.
“We would like to inform you that in anticipation of and pursuant to the closing conditions of the PLDT-SKY acquisition deal, SKY will now begin its transition into a dedicated internet service provider,” the advisory said.
The advisory added that there will be no changes to SKY Fiber subscription, which offers high-speed broadband services. However, Sky Cable subscribers are advised to explore other options for their cable TV needs, as SKY will no longer offer pay TV channels after February 26.
Meanwhile, the SKY Bundle subscription, which combines cable TV and internet services, will be converted to a standalone SKY Fiber plan of their choice. SKY said it will assist its bundle subscribers with the conversion process.
The acquisition deal, which was announced in March 2023, will allow PLDT to acquire 100% of SKY Cable’s total issued and outstanding capital stock consisting of 1.38 billion common shares for P4.9043 per share, or a total of P6.75 billion.
PLDT, which operates Cignal TV, said the acquisition of SKY Cable will enhance the “overall customer experience through the combined expertise, resources and capabilities of PLDT and Sky.”
The deal is expected to strengthen PLDT’s position in the broadband and pay-TV markets, as well as create synergies and cost savings for both companies.