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ABS-CBN Broadcasting Corporation (¡°ABS-CBN¡± or the ¡°Company¡±) is the largest integrated media and entertainment company in the Philippines. The Company is principally involved in television and radio broadcasting, as well as the production of television programming for domestic and international audiences and other related businesses.

The Company¡¯s Very High Frequency (¡°VHF¡±) television network, which consists of its flagship station in Mega Manila, Channel 2, 23 other owned and operated television stations and 10 affiliated stations, is the leading television network in the Philippines.

The Company also operates Studio 23, the leading Ultra High Frequency (¡°UHF¡±) television network with 35 television stations. The two networks reach an estimated 97% and 50% of all television owning households in the Philippines, respectively.

The Company is also one of the leading radio broadcasting companies, with 19 owned AM and FM radio stations and ten affiliated radio stations throughout the Philippines. The Company¡¯s anchor radio stations in Manila, DZMM and DWRR, are the highest-rated stations in Mega Manila in the AM and FM bands, respectively.

Bulk of revenues is derived from selling advertising airtime on its television and radio broadcasts. Other revenue sources are from media related businesses both domestically and internationally.