Manila- ABS-CBN Broadcasting Corp., the Philippines’ largest broadcaster, posted a 77% year-on-year increase in net income to P739 million ($US16.4 million) for the first half of 2007 on the back of improving advertising and subscription-based businesses. It generated P5 billion (US$111 million) in total revenues, higher than the P4.3 billion it recorded in the same period last year. ABS-CBN gross revenues increased by 12% year-on-year to $204.3 million, driven by higher airtime revenues and sale of services. Gross airtime revenues grew by 22% to $137.6 million on the back of improving ratings and higher advertising volume. Although industry advertising TV minutes dipped 4%, ABS-CBN managed to inch up by 0.2%. ABS-CBN was No. 1 in audience share and ratings, 10 and 4 percentage points, respectively, ahead of rival GMA Network Inc. Chief financial officer Jose Miguel Navarrete said the company is likely to launch its digital television-terrestrial project in the first quarter of 2008 after the government resolves regulatory issues and establishes the standards for the territory.