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Velarde ventures into cable television

Now Corp., a listed company controlled by the Velarde family, is venturing into broadband and wireless cable television with guaranteed speed, the first of its kind in the Philippines.

Now, formerly known as Information Capital Technology Ventures Inc., said it launched two new services called  “Now Broadband Cable TV,” a guaranteed broadband Internet service with wireless Cable TV, and the “NOWPlanet.TV,” a digital media platform that converges free TV, Web channels, cloud services and other interactive services.

The company’s broadband cable TV has a minimum bandwidth of 2 megabit per second to 1.4 gigabit per second.

Now said the trailblazing service was made possible through a strategic synergy with a cable TV operator in Metro Manila, the first among more than one thousand cable operators in the country.

“ Discussions with other cable operators and global telecom companies are on-going,” Now said.

Times Plaza Building along UN Avenue in Manila and Angelicum College in Quezon City became the first customers that are now enjoying the services.

Now president Mel Velarde, earlier said subsidiary Now Telecom Co., formerly Next Mobile Inc., planned to spend $28 million for its mobile phone services over the next two years to roll out cell sites in Metro Manila.

The company will use the mobile cellular license of Next Mobile for the rollout of its text messaging service.

Now earlier reported a net loss of P7.86 million in the first half of 2015, lower than P17.97-million net loss recorded a year ago.

Now posted consolidated revenues of P39.01 million in the six-month period, up by 13 percent from a year earlier.

Topics: Velarde , Now Corp.
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