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Tuesday, October 4, 2011

GMA'S ACCOUNTING SYSTEM WAS IN A STONE AGE A DECADE AGO!

It was 1999, and with his former boss now gone—replaced by son Gabby Lopez—that Yalong joined GMA Network Inc. on the invitation of the Jimenez family.

“When Geny died, I got a call from the Jimenez family, and they offered me a job. I was initially hired as a consultant,” Yalong says.

“My job was to prepare the company for an IPO,” he says.

It may have been the new millennium, but Yalong says when he first joined GMA, the company might as well have been in the Stone Age.


“They were still using ledger manuals. Computers were only there for writing reports,” Yalong says. “Our first major expense was to buy computers. That was our first major capital expense.”

He says the Jimenez family, which owned a substantial stake in GMA, wanted to cash in on their investment at the time by selling out. “There were already talks with Manny Pangilinan when I joined the company,” he says.

Instead of a Pangilinan investment, GMA’s management team eventually set its sights on IPO cash. But getting the company’s books in order by buying a bunch of computers would not be enough to bring GMA to its full potential.

Now supported with financial soundness, Yalong says GMA’s next step at the time was to expand its network reach, especially in provinces, while at the same time building up its content portfolio.

“Up until last year, a big chunk of our earnings were earmarked for the expansion of the network,” Yalong says. The company did this while aggressively developing its talent pool by getting stars from ABS-CBN and developing its own.

Credits: Inquirer

5 comments:

Anonymous said...

until now stone age pa den haha... nag number 1 n nga nung nawala sa ere ang abs pero wala pa den kwent ngaun, ano mga kanguso sa finance officer na nangaling na di sukatan ang mega manila, ang sukatan ay nationwide, kaya ang ginawa ng gma, ginapang ang rating sa nationwide at ngaun nagtagumpay sila haha
.. pero di nila alam sisingaw pala ang baho nila, kaya mga advertiser mas pinipili na ang kantar haha... proof? mas mataas ang AIRTIME REVENUE ng abs kesa sa gmeww... Sa 1st and 2nd quarter ng taon.

Anonymous said...

KOREK TAMA YUNG UNANG NGCOMMENT. BUKING NA BUKING NA NG MGA ADVERTISERS ANG BAWAT GALAW NG AGB AT GMA....

AHAHAHA....ALAM NG LAHAT NGAYON NA MAS IMPORTANTE ANG NATIONWIDE SURVEY...BUKING ANG MGA KAPUSO FANS.

KANTAR NA ANG MAS PINAGKAKATIWALAAN NGAYON...

yes said...

ITINK khit ano p un gagawin ng GMA-TV5 wala n silang mgagawa STILL abs parin un #1...STONE AGE DECADE hmmmppphwag u sabihen yan...gawin nyo nlng....

Anonymous said...

Breaking NEWS!!!

GMA PINOY TV! NAGSHUTDOWN NA SA CANADA!!! NXT COUNTRY TO SHUTDOWN IS MIDDLE EAST!!! BALITANG BALITA NA TATANGGALIN NA RIN NG ORBIT ANG PINOY TV DAHIL SA HINDI RIN PAGBABAYAD NG FEE. ANO BA YAN GMA MAGBAYAD NA KAU!!! KALA KO BA MAYAMAN KAYO!!!

Anonymous said...

STONE AGE?!!! DYOSKO KAHIT NAMAN NGAYON, PATI MGA FANATICS STONE AGE DIN, DI BA BOBONG LONG?!

BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

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