MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) may no longer acquire a controlling stake in media firm GMA Network Inc. as talks between the groups fall through.
PLDT announced in a disclosure to the Philippine Stock Exchange on Thursday, October 4, that its unit MediaQuest Holdings Inc.'s discussions for a possible acquisition deal with major shareholders of GMA-7 have ended because they failed to arrive at "mutually accepted terms."
PLDT announced in a disclosure to the Philippine Stock Exchange on Thursday, October 4, that its unit MediaQuest Holdings Inc.'s discussions for a possible acquisition deal with major shareholders of GMA-7 have ended because they failed to arrive at "mutually accepted terms."
"The parties have been unable to arrive at a mutually acceptable terms despite the continual discussions and efforts exerted in good faith," said the country's largest telecommunications company.
The talks on the much-awaited deal between the triumvirate that control GMA-7 -- the Duavit, Gozon and Jimenez families -- and PLDT chair Manuel V. Pangilinan started in December 2011.
Pangilinan earlier said they had arranged the funds for the purchase, which was targeted to be finalized before the end of 2012 and reported to cost anywhere between P50 billion and P60 billion. He said, too, that the controlling families would be paid in cash.
However, GMA-7 chair Felipe Gozon said in July that price and other issues were stalling the talks. - Rappler.com
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11 comments:
WeW - Panu na Yan Gozon, namahalan masyado si MVP sa presyo mo..? Sana mag labas ka ng Pera para ma pabilis ang DTV migration ng GMA para hindi niyo dini-delay ang ROLL-OUT. . . gusto na namin mag Digital TV Hina harang ng GMA Network...
ahahaha...palubog na kasi kaya ayaw na rin siguro bilhin ng pldt ang gma....flop kasi na ang mga shows ngayon ng gma........kaya panay ang rigudon at sibakan ng shows sa syete.
mas mataas na kasi ang rating tv5 sa Mindanao kaya wala naring kwenta, malapit naring maungusan ng tv5 ang kapusher netweak sa visayas. mahal daw masyado ang 50b para sa isang palubog na negosyo!
MANILA, Philippines - Businessman Manuel V. Pangilinan won't be buying another TV network after all.
In a disclosure to the stock exchange, publicly listed GMA Network Inc. said discussions with MediaQuest Holdings Inc. for its possible acquisition of a controlling stake in the network have been terminated.
Mediaquest is an investee company of the Philippine Long Distance Telephone Co. (PLDT) Retirement Fund.
"The parties have been unable to arrive at mutually acceptable terms despite continual discussions and efforts exerted in good faith," GMA said.
As of 10:08 a.m., GMA Network is the second biggest loser in the exchange, down by 9.31% at P8.180 per share.
Pangilinan has earlier offered to acquire GMA Network, the country's second largest broadcast firm, for an estimated P50 - P60 billion. However, neither PLDT nor GMA have confirmed these amounts officially.
PLDT, the country's biggest telecommunications company, already owns TV-5 broadcast firm.
GMA chief executive Felipe Gozon earlier declined to comment on specific details regarding Pangilinan's offer. He also didn't comment on discussions with other parties, except to say that talks at the moment only involve Pangilinan's group.
"We are not peddling GMA for sale. Somebody wanted to buy and we attended to it. There is no plan B, no plan C, no plan D," said Gozon, who controls GMA together with the Duavit and Jimenez families.
"We are ready, prepared and willing to continue running the station [in case the talks fail]," Gozon said.
This is the second time Pangilinan has attempted and failed to acquire GMA-7. In the early 2000s, Pangilinan tried to buy GMA-7 but discussions fell apart.
As of 10:08 a.m., GMA Network is the second biggest loser in the exchange, down by 9.31% at P8.180 per share.
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opps second biggest loser? haha...
OH bad NEWS for GMA...lagot paano yan san n sila kkpit TAAS kc ng presyo eh na WLA nman s kalidad un GMA.
WAWANG GMA7 DYAN PA NMAN SILA UMASA..
PRIMETIME BIDA - 15-20 ADS PER GAP
TELEBABAD - 5-8 ADS PER GAP
Hay Naku!!! Sino ba naman ang bibili sa isang Junk Shop na Istasyon???? Ultimo TV5 may kakayahang talunin ang GME??? kawawa naman kayo mga Kapusod sunod-sunod na bad news ang balita sa inyo!!! Kaya Lipat nah!hahaha jowk kahit hindi na noh! masyado na kaming marami! :P
hoy mga di nio ba alam na mas rich yung mga owners ng GMA 7 kaysa yung pldt na yan, pag - may ari ng foreingers
buti naman at di na tuloy yung merger na yan
^
Sino ba naman ang di yayaman eh BINUBULSA lang ng Bosses ng GMA lahat ng pera kaya ang mga artista nila eh BARYA lang ang kita ;)) BWAHAHAHA At eto pa nalugi ng 4 billion ang GMA at WORST NETWORK pa ;)) BWAHAHAHAHA
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