- The Davao-based businessman previously stated that he has no plans to acquire ABS-CBN and that broadcasting is not a part of their corporate direction.
- The head of DITO CME is former ABS-CBN chief digital officer Donald Lim.
Davao-based businessman Dennis Uy’s media company shared its future plans in a shareholders’ meeting on July 28 where it laid out its next move.
DITO Communications Media Entertainment (DITO CME) said that it intends to invest in and partner with content creators to produce, develop, and distribute entertainment and other content on various platforms.
The company will “plan to invest in and partner with creative organizations and thought leaders to develop and distribute entertainment, sports, and educational programs for various platforms.”
The company is headed by former ABS-CBN chief digital officer Donald Lim.
“Dito CME plans to leverage on advertising solutions for its brand and business partners, not only through the eyeballs from content but also leveraging assets within the Udenna Group,” he said.
He also clarified the relationship between DITO Telecommunity and DITO CME.
“DITO CME will own indirect interest in DITO Telecommunity once the necessary governmental approvals are obtained and the appropriate transfer documents are executed; however, the holder of the government franchise is DITO Telecommunity.”
A few months ago, Uy said that he has no intention to acquire ABS-CBN.
“Being in the business of broadcasting is not part of our corporate direction,” Uy said in a statement.
“I have high respect for the things ABS-CBN had done and continue to do… We are hoping that their issues be resolved soonest,” he added.
The Department of Justice accused Uy’s Phoenix Petroleum of smuggling in 2011 but lost the case.
Uy is also a known Duterte supporter.