Doubts loom over GMA-7 sale

The owners of GMA Network Inc. raised doubts Thursday about the planned entry of businessman Ramon Ang, saying matters involving the sale of a minority stake in the television broadcast firm have been settled and it was matter of Ang making a final decision.

“As far as we are concerned, there is nothing more to negotiate,” Felipe Gozon, GMA Network chair and CEO, told reporters during the company’s quarterly briefing on Thursday. “The ball is no longer in our court. They [ Ang’s group] will decide.”

Gozon, who controls GMA Network together with the Duavit and Jimenez families, said they were still adopting a “wait-and-see stance” on the entry of Ang, who sits as president of conglomerate San Miguel Corp. but was making the investment in his personal capacity.

He added that they have already been approached by other groups, which he did not name. GMA Network is one of the country’s largest television broadcast firms and mainly competes with the Lopez Group’s ABS-CBN Corp. for ratings and TV advertising money.

“Since I am no longer sure [of Ang interest], it depends on the [other] suitor whether they would like to court us or not,” said Gozon, adding that they were never actively looking to sell a stake since the beginning.