GMA-7 open to investors

  • Page Views 2067
  • The chairman of GMA Network Inc. is open to revive talks for the sale of a majority stake in the broadcast network.

    “I am not the one reviving. The buyers are the one trying to revive. As of now we are not talking, but we are going to talk,” GMA Network chairman and chief executive Felipe Gozon said.

    “We are open anytime, but the offer must be acceptable to us,” he said.

    Gozon said the owners were talking to the same interested potential investor.

    The Gozon, Jimenez and Duavit families own a combined 79 percent of the network, which airs on Channel 7 on free TV.

    Majority shareholders of the broadcaster earlier agreed  to sell about 30 percent of the company to businessman Ramon Ang, but the negotiation bogged down after more than a year of talks.

    Talks with the group of Philippine Long Distance Telephone Co. also fell through over price and regulatory issues.

    The broadcast firm posted a net income of P842 million in the first quarter, down by 17 percent from last year’s P1.01 billon.

    Revenues, minus political advertisements, increased 15 percent to P3.76 billion from P3.26 billion last year.  Including political ads, revenues in the period fell 4 percent.

    Political ads contributed P640 million to the company’s top time in the first quarter last year.

    “Even without political ads, we are tracking a stronger year financially and we expect to achieve our growth targets in 2017,” Gozon said.

    Gozon said the company’s profit guidance for the year was over P3.9 billion.  Last year, the network posted a net income of P3.65 billion, up from P2.13 billion in 2015. (D. Amojelar, MS)

     

    Share

    New Posts Recently publish post More

    • 16 September 2021
      13 hours ago No comment

      Millions cast advance vote as race tightens in September 20 election

      Elections Canada estimates that roughly 5.8 million Canadians cast their ballot at advanced polls for the September 20 federal election. The advance polls were open from September 10 to September 13. Preliminary figures provided by Elections Canada showed that there was an 18.5 percent rise in advanced voters compared ...

    • 09 September 2021
      1 week ago No comment

      Metro Vancouver Bicolanos endorse Leni Robredo for next PH president

      We are Bicolanos and Bicolanas working and residing in Metro Vancouver and express our positive support to Leni Georna-Robredo to become the next President of the Republic of the Philippines. We feel the pains of our fellow Filipinos and we equally share the burden. And being away from the ...

    • 09 September 2021
      1 week ago No comment

      Conservatives lead in homestretch to September 20 vote

      Is Canada going to have a new prime minister on September 20? Results of two surveys released as Philippine Asian News Today went to press Wednesday (September 8) show the Conservative Party of Canada led by Erin O’Toole leading the Liberal Party of Prime Minister Justin Trudeau. Global News ...

    • 09 September 2021
      1 week ago No comment

      What’s wrong with Kim Chiu?

      Many are worried with Kim Chiu not being her usual bubbly self on recent episodes of “It’s Showtime.” Some fans even took to social media to remark about it. “Anyare kay Kim? Bakit walang kibo?” “Di ako sanay na tahimik si Kim…” “What’s happening it’s showtime? Ano ginagawa ninyo ...

    • 02 September 2021
      2 weeks ago No comment

      ‘Elections are important’: Janine Gutierrez urges eligible voters to register

      Actress Janine Gutierrez called on Filipinos to “make use of the next month wisely” in response to reports that the voter registration for the 2022 elections will no longer be extended despite suspension during lockdowns. The 32-year-old Kapamilya talent on August 24 responded to a news item shared on Twitter which ...

    %d bloggers like this: