ABS-CBN (an initialism of the network's former name, Alto Broadcasting System - Chronicle Broadcasting Network) is a Filipino commercial broadcast television network that is the flagship property of ABS-CBN Corporation, a company under Lopez Group. The network is headquartered at the ABS-CBN Broadcasting Center in Quezon City, with additional major offices and production facilities in over 25 major cities including Iloilo, Cebu, and Davao. ABS-CBN is formally referred to as "The Kapamilya Network", a Filipino word which means a member of a family, and was originally introduced in 2003 during the celebration of the 50th year anniversary of television in the Philippines. It is the largest television network in the country in terms of revenues, assets, and international coverage.