7 months ABS-CBN forms JVs with beauty, payment firms Manilatimes |Biz
ABS-CBN Corp. is seeking new revenue streams by forming joint ventures with Ever Bilena Cosmetics Inc. and iBayad Online Ventures Inc. that would serve as its entry to the beauty and digital-payments industries. The Lopez-led media conglomerate told the Philippine Stock Exchange on Friday that under its agreement with Ever Bilena, they would equally split ownership of their new cosmetics brand, which would have an initial P10 million as capital stock. Ever Bilena would focus on product development, logistics and distribution, while ABS-CBN would handle marketing promotions and talent development. “From conceptualization to [the brand’s] commercial launch, parties agreed [on ... more