Quantcast
Latest Stories

TV5-GMA7 merger report denied anew

By

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.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: GMA 7 , merger , Television , TV5

  • 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…



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace