ABS-CBN SURRENDERS ITS WIRELESS LANDLINE BUSINESS!

SMC CHAIRMAN BUYS A STAKE ON GMA NETWORK FOR P10.8 BILLION!

After the reported collapse of talks between the three families who control GMA Network and Mannuel Pangilinan of Media Quest, reports surface indicating Ramon S. Ang finalizing its entry to the Media Giant. 

The three families who control the GMA Network expect to receive about P10.8-billion from San Miguel president Ramon S. Ang. The amount represents a reported 30-percent stake, at a reported price of P10.80 a share, that Ang is acquiring in his personal capacity. San Miguel Corp. is not allowed by law to aqua ire a stake in GMA Network as no foreign entities are allowed to hold a controlling stake in any of the country's media entities.  

ABS-CBN LOANS P1 BILLION FROM PHILAMLIFE!

MANILA - ABS-CBN Corp has secured a loan from a local insurance company to finance its capital expenditure for this year.

In a disclosure to the Philippine Stock Exchange, the Lopez-owned broadcasting company said it has obtained a P1 billion loan from the Philippine American Life and General Insurance Co (Philamlife). 

The loan has a 10-year term with a fixed interest rate of 5.4 percent per annum. 

NEW YORK FESTIVAL NOMINATES 5 KAPAMILYA PROGRAMS!

MANILA - Five television programs from ABS-CBN are vying for medals in the 2014 New York Festivals (NYF) International Television and Film Awards.

The investigative documentary “Agosto Beinte Uno: Ang Pagpatay Kay Ninoy Aquino” by ABS-CBN Docu Central earned two nominations in separate categories.

 The special, which revisited the still-unsolved Aquino assassination case in time for the 30th anniversary of the shooting, is a contender for the Biography/Profiles category.

ABS-CBN SECURES P1.65B LOAN WITH SECURITY BANK TO REFINANCE EXISTING DEBTS!

MANILA, Philippines - ABS-CBN Corp. sealed a loan package worth P1.65 billion with Security Banking Corp. to refinance existing obligations.

In a disclosure to the stock exchange, ABS-CBN chief information officer Eulogio Masilungan said the multimedia giant has obtained a four-year term loan of P1.65 billion from Security Bank.

MVP TO GIVE UP BID FOR GMA7

MANILA, Philippines – Negotiations between Philippine Long Distance Telephone Co. (PLDT) and GMA Network Inc. toward a buyout deal have collapsed anew, PLDT chairman Manuel V. Pangilinan said on Tuesday.

Pangilinan said GMA did not respond to PLDT’s offer to buy a 34 percent minority stake.