ABS-CBN Corporation[b] is a Filipino media company based in Quezon City, Metro Manila, Philippines.
In 1952, BEC was renamed Alto Broadcasting System (ABS) with its corporate name, Alto Sales Corporation after Judge Antonio Quirino, brother of President Elpidio Quirino, purchased the company and later launched the first TV station in the country, DZAQ-TV on October 23, 1953.
The common shares of ABS-CBN were first traded on the Philippine Stock Exchange in July 1992 under the ticker symbol ABS.
In 1949, Lindenberg shifted Bolinao to radio broadcasting with DZBC and masterminded the introduction of television to the country in 1953.
"Alto" was a contraction of Quirino's and his wife's first names, Tony and Aleli, and is Spanish for "tall".
Though they had little money and resources, ABS was able to put up its TV tower by July 1953 and import some 300 television sets.
"[6][15] ABS-CBN Corporation owns major media and entertainment companies in the Philippines, and offers services and products such as radio broadcast, satellite and cable television broadcast, broadcast syndication, telecommunications, publishing, content production and program and film distributor, television production, film production, new media and digital platforms, talent agencies, pay TV and broadband internet provider, consumer sales and merchandise, music label and recording, and theater.
[16][c][citation needed] The conglomerate owns and operates general entertainment broadcaster Kapamilya Channel and English-language news service ABS-CBN News Channel under ABS-CBN, AM radio station DWPM and Filipino-language cable and online news channel TeleRadyo Serbisyo (through a joint venture with Prime Media Holdings), and digital radio platform MOR Entertainment.
The Kapamilya Channel, in particular, is the largest contributor to the conglomerate's revenue mainly from selling airtime to advertisers.
Other companies which operate under the ABS-CBN media conglomerate are motion picture companies under ABS-CBN Film Productions, such as Star Cinema, Cinema One Originals, Cine Bro and Black Sheep Productions,[19] the entertainment division ABS-CBN Studios (Dreamscape Entertainment, Star Creatives, RCD Narratives, JRB Creative Production and RGE Drama Unit under RSB Scripted Format),[20][21] entertainment and film production Star Magic Studio[22] (under Star Magic), and online ticketing and streaming site KTX.
[24] The ABS-CBN media conglomerate's main entertainment and production division is called Star Creatives Group.