ABS-CBN (an initialism of its two predecessors' names, Alto Broadcasting System and Chronicle Broadcasting Network) is a Philippine commercial broadcast network that serves as the flagship property of the ABS-CBN Corporation, a company under Lopez Holdings Corporation owned by the López family. The network is headquartered at the ELJ Communications Center and ABS-CBN Broadcasting Center in Quezon City, with additional offices and production facilities in 25 major cities including Baguio, Naga, Bacolod, Iloilo, Cebu, Davao, and Bulacan, where ABS-CBN's production and post-production facility in Horizon IT Park is located. ABS-CBN is colloquially referred to as the Kapamilya Network; its brand was originally introduced in 1999 and was officially introduced in 2003 during the celebration of its 50th anniversary, and was used until its May 5, 2020, shutdown when the network was renamed Kapamilya Forever in support for the network's franchise renewal on May 13, 2020. ABS-CBN is the largest media company in the country and oldest television broadcaster in Southeast Asia. ABS-CBN is the first television network in Southeast Asia to broadcast in color, and one of the oldest commercial television broadcasters in Asia. It has also been the leading television network in the Philippines with advertising revenues of 21.2 billion pesos for the 2015 fiscal year. Throughout 2020, ABS-CBN suffered legal challenges which resulted in the loss of the network's broadcast franchise and the ability to broadcast on terrestrial television and radio. Since the shutdown, the network has rebranded itself as a mass content company and produced television programs, films and other entertainment content through partnerships with independent production companies and broadcasters, including A2Z and TV5. The network's social media accounts are mainly managed by ABS-CBN Digital Media, which have an estimated less than 100 million followers across multiple social media websites. The network's entertainment YouTube channel is the most-subscribed and most-viewed channel in Southeast Asia, with over 36.7 million subscribers and over 44.1 billion views, ahead of Thailand's WorkpointTV. History Bolinao Electronics Corporation (BEC) was founded on June 13, 1946. It was established by James Lindenberg, one of the founding fathers of Philippine television and an American electronics engineer who went into radio equipment assembly and radio broadcasting. At the time, the largest media company was the Manila Broadcasting Company, with DZRH as the leading radio station. In 1949, James Lindenberg shifted Bolinao to radio broadcasting with DZBC and planned the introduction of television to the Philippines in