MANILA, Philippines - Lopez-led multimedia conglomerate ABS-CBN Corp. is branching out into theme parks and resorts development, following the footsteps of global media giants Walt Disney Co., NBC Universal and Viacom which broke out of the cocoon of home entertainment.
The country’s largest media outfit has incorporated ABS-CBN Theme Parks & Resort Holdings Inc. with an initial authorized capital of P270 million to serve as the group’s vehicle for its foray into the amusement park business.
The Lopezes were earlier reported among those that have signified interest to partner with Japanese billionaire Kazuo Okada, one of the four investor groups granted a license to operate a casino in Philippine Amusement & Gaming Corp.’s Entertainment City.
