Business and Economy
GMA open to new investors
MANILA — Following the abrupt termination of the television network’s negotiation with businessman Ramon Ang, GMA Network Inc. on Tuesday said it is now open to new investors.
The network earlier announced that talks between Ang and the network’s majority stakeholders led by the Duavit, Gozon and Jimenez families have been “deemed terminated.”
Philippine Long Distance Telephone Co. (PLDT), led by businessman Manuel V. Pangilinan also has expressed interest to court the company.
PLDT now owns TV5, the country’s third-biggest television network, as well as various local newspapers.
Pangilinan said yesterday that he is still eyeing to work with GMA in a business deal that would fit into the company’s emerging business model.
PLDT is now aiming to combine tradition telecommunication business with content providers.
“From that perspective, we’re open to any arrangement that marries platforms with content in whatever space might exist or develop,” Pangilinan’s spokesperson said in a text message to the Philippine Daily Inquirer, as published in a report by Miguel R. Camus and Doris Dumlao-Abadilla.
