TV5-GMA7 merger report denied anew

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MANILA, Philippines – Two of the country’s major broadcast firms denied fresh rumors of a deal that would result in an industry-changing merger.

In separate statements, officials said that while discussions on the possible acquisition by Associated Broadcasting Company (ABC), operator of TV5 of GMA Network Inc. were ongoing, no deal has been reached yet.

This was contrary to an article by newspaper columnist Ricky Lo published Monday.

In his column, Lo said ABC chair Manuel V. Pangilinan “virtually confirmed” the two companies’ merger, following a co-marketing deal between both firms with US-based cable TV provider Dish Network.

“To the best of our knowledge, the source of this information is claiming to have been misquoted,” GMA Network said.

“We humbly suggest that if the Exchange wants to verify the source of the information, they can do so with Mr. Pangilinan, who Mr. Lo attributed the information to have come from,” it added.

In a separate statement, TV5 president Ray C. Espinosa said the co-marketing deal with Dish network did not mean that ABC had merged with the larger, more profitable GMA7.

GMA7 is owned by the Gozon, Duavit and Jimenez families, while TV5 is a unit of MediaQuest Holdings, a subsidiary of the Philippine Long Distance Telephone Co. (PLDT) Beneficial Trust Fund.

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  • http://pulse.yahoo.com/_CZS2DG54GHTF7WV34AKNR6JSRE ferds

    Kaya huwag magpapaniwala sa nga taong ito, siguradong may nga share stocks ang nga ito

    kaya they try to fool the investing public.

  • aaa07

    From December 24,2011, when this controversy started, the market value of GMA grew from 23 billion from that date and as of today, GMA’s market value was at 34 billion pesos. So 11 billion ang lumaki s market value ng GMA mula ng magsimula ang kontrobersiyang ito. Business di ba? At isa p, ung s November 2012 n cnasabi ng TV5 eh un ay ang pagbubukas ng TV5 Media Center s Sheridan, Mandaluyong City n 10 billion ang halaga. So aq, ndi naniniwala d2 kalokohan lng i2 ng mga kolumnista n gus2 lng mpag- usapan at s mga galit s GMA particularly ABS-CBN fans but they didn’t know is that GMA was gaining in this controversy.

  • aaa07

    S plagay q, prang lalong ndi ma22loy ang merger eh qng aq tatnungin. Ksi ndi lng nman PLDT ang me interes jan eh kundi San Miguel. Qng makuha man ng san miguel ang GMA eh wla rin nman mgbabago s leadership ksi major stockholders ang mga Gozon, Duavit at Jimenez s San Miguel at mas mlapit cla s San Miguel. Ka2nayan nyan eh SVP ng SMC c Menardo Jimenez, one of the owners of GMA at isa p, GMA is the most profitable network in the country and wla clang balak ibenta ang kumpanya. Kya lng me 100 billion pesos n cnasabi c Atty. Gozon is that the fact n gusto nyang tumaas ang stocks ng GMA at tumaas p lalo ang market value ng GMA n cyempre eh kita s kumpanya ng malaki.

  • http://twitter.com/francis820 francis820

    Ricky Lo intends to sensationalize himself, but through irresponsible journalism? Just like an old tambay in a street corner catching every hearsay… tsk tsk tsk…

  • Mario_Garcia

    Other than information coming directly from Mr.Pangilinan, everything is hearsay.

  • just_and_equitable

    Di kasi taga PDI ang nagscoop, very irresponsible columnist, ayan kuryente…

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