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AXN leaves Destiny Cable.
(From Philippine Daily Inquirer)
Byline: Abigail L. Ho
DESTINY Cable Inc. said its closest competitor Beyond Cable Holdings Inc. was pressuring it to give in to a consolidation plan in the near future.
After last year's pullout of five top-rating Star Group Ltd. programs from Destiny Cable's line-up, action program channel AXN recently decided not to renew its contract with the cable operator. It will stop airing on Destiny Cable today.
Late last year, Destiny Cable and Beyond Cable signed a memorandum of understanding that opened the door for discussions of a possible consolidation.
However, Destiny Cable announced in early June that the merger talks collapsed due to "certain critical financial ...
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