ABS-CBN Corporation

ABS-CBN Corporation is a Filipino media company based in Quezon City, Metro Manila, Philippines. It is the Philippines' largest entertainment and media conglomerate in terms of revenue, operating income, net income, assets, equity, market capitalization, and number of employees. ABS-CBN was formed by the merger of Alto Broadcasting System (ABS) and Chronicle Broadcasting Network (CBN).ABS was founded in 1946 by American electronics engineer James Lindenberg as Bolinao Electronics Corporation (BEC). 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 company that would later be merged with ABS to form ABS-CBN was founded in 1956 as Chronicle Broadcasting Network, Inc. (CBN) by newspaper mogul Eugenio Lopez Sr. and his brother Fernando Lopez, who was then the Vice President of the Philippines. The two companies were soon merged a year later after the Lopezes' acquisition of ABS, reverted to its original name, BEC. Although the ABS-CBN brand was first used on television in 1961, the company became known as ABS-CBN Broadcasting Corporation a few years later on February 1, 1967, and renamed ABS-CBN Corporation on May 27, 2010, to reflect the company's diversification. The common shares of ABS-CBN were first traded on the Philippine Stock Exchange in July 1992 under the ticker symbol ABS.