MANILA, Philippines – Businessman Manuel V. Pangilinan said he expects his group to seal by next month a deal that will give it majority interest in one of the country's top newspaper groups, The Philippine Star.
Pangilinan disclosed this during a Twitter chat Monday night, February 17 where he answered random questions from netizens.Pangilinan-led Philippine Long Distance Telephone Company (PLDT) wants to bring its stake in Star as well as its affiliates to up to 80%. It will acquire control of the broadsheet from the family of House Speaker Feliciano Belmonte Jr. and other shareholders.
The deal may be valued at about P5 billion, Belmonte's son Miguel, president and CEO of Star, earlier told Rappler.
The Belmontes have been running Star since it was founded in 1986.
Aside from cashing in on the family's investment, Miguel said they see the deal with PLDT as the best way to extend the life span of the paper. (READ: Why Star owners want to sell to MVP)
The PLDT group has been aggressively buying media assets in a bid to transform into a "multimedia service company" that offers telecommunications services as well as content.
It owns 20% of Star, while the Belmonte family owns 51%. The rest is distributed among other shareholders, including the family of the late Star publisher Max Soliven and Menardo Jimenez, one of GMA Network Inc.'s owners.
Aside from Star, the PLDT group also has minority interests in the Philippine Daily Inquirer and BusinessWorld. It has full control of Associated Broadcasting Corporation, the company that operates TV5, and cable provider Cignal Digital TV. There were reports it revived talks to acquire GMA Network.
(Photo courtesy of Rappler.com)
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8 comments:
Anonymous said...
number 1 prin ang GMA7 tingnan nio sa percentage sa pangkahalatan. sa vismin lng ang pinagmamalki ng mga chakapam e 20% lng ang sa dami ng tao kumpara sa 80% populasyon na nsa luzon at ang luzon ay balwarte ng GMA;lugmok na ang vis.dahil sa yolanda kaya wala ng tiwala ang mga advertisers sa 2
as of now ngaNGA sa HOLIWOOD ang stae cinema samantala nakaHOLIWOOD na ang GMA films ibig sabihin nito na mas mgaling Ang GMA sa pggawa ng movies;yung iba jan kc uto uto-nood nood -uto uto.kung matino ka mas suportahan mu ang mas dekalidad na movie.isip isip din pg may time
February 19, 2014 at 5:59 PM
Nagsalita yung matalino. Eh, sa takbo ng comment mo halatang certified bobo ka...
yung nsa itaas di matanggp ang katotohanan--the truth really hurts....bwahaha
Okay, yan pala ang katotohanan, paki report na lang po sa mga advertisers ang katotohanang ito baka sakaling pakinggan ka at mabigyan ng project ang mga Kapuso stars, sa ngayon kasi 9 out of 10 na endorsers from showbiz galing sa kapamilya stars...
Okay, yan pala ang katotohanan, paki report na lang po sa mga advertisers ang katotohanang ito baka sakaling pakinggan ka at mabigyan ng project ang mga Kapuso stars, sa ngayon kasi 9 out of 10 na endorsers from showbiz galing sa kapamilya stars...
kawawang mga kapuso hindi maka move on sa ponagmamalaki nilang movie na nakapasok sa hollywood. kelan pa ba yun ha? at nasundan ba yun? anyRe sa mga bida nun? sumikat ba pati sa hollywood? kumita ba gma films ha? palibhasa ala ng maipagmalaki sa axcomplishment ng gma films....mismong si gozon umamin na talo sila sa star cinema.
kaw mag isip. d porke napalabas sa hollywood quality na. madami din holloywoods movies na d quality at low budget. tagal na yang pinagmamalaki mong movie 2014 na ngayon.
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