Major shareholders of Broadcasting Firm, GMA Network, has confirmed the sale of minority stakes to San Miguel Chair Ramon S. Ang. In a disclosure with the Philippine Stock Exchange dated June 23, 2014, GMA Network announced the formal entry of Ramon S Ang into the broadcasting industry. The financial detail of the deal has yet been announced, but the deal is seen to have a positive impact on the Network. RSA's entry to GMA Network would allow for additional advertising revenues for GMA7 via RSA's Food related companies. It will also be beneficial for GMA's shareholders as the price of the deal is believed to be well above the prevailing market price of GMA7.
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