Tuesday, June 24, 2014


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.

In October 2012, PLDT and GMA7 terminated discussions for the telco's buyout of the broadcast firm's major shareholders - the Gozon, Duavit and Jimenez families - who own a combined 79 percent of the network. Pangilinan had said disagreement over regulatory risk-sharing led to the collapse of negotiations.

Any PLDT acquisition of a broadcast network would have to go through the gamut of regulatory and Congressional approvals. As it already owns TV5, BusinessWorld and Philippine Star -- as well as a minority stake in Philippine Daily Inquirer -- PLDT's bid for GMA7 could attract close scrutiny, if not opposition from certain quarters concerned over the concentration of media power in one conglomerate.

In 2004, PLDT-Beneficial Trust Fund also attempted to buy 66.67 percent of GMA7 for P8.5 billion. Negotiations bogged down after the fund’s unit, MediaQuest Holdings Inc, cut its offer from P14.58 billion to P12 billion.


DarkfallingAngelFromPinoyExchange said...

FYI sa mga bashers, this is for GMA's expansion! Sa laki ng kinita ng GMA hindi lang pesos pero dollars! GMA's net income for the first and second quarter is 500 million dollars!!

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