MANILA, Philippines – Businessman Manuel V. Pangilinan reiterated that his group considers GMA Network Inc, the operator of GMA-7, a good investment given the second biggest media network’s healthy financials.
“From what I gather, 2012 will be better than 2011. It’s in good shape. No debt. They are profitable and it’s a fine company by itself, whether if it’s for sale or not,” Pangilinan said on Tuesday, March 6, at the press conference of Philippine Long Distance Co. (PLDT).
Pangilinan, the chair of PLDT and ABC Development Corp, the operator of third-liner TV5, reiterated that, “We have been interested in GMA7 since 10 years ago but there are no discussions ongoing.”
On March 1, at a press conference of infrastructure firm Metro Pacific Investments Corp. where he is also chair, Panglinan said there are no ongoing talks “at the moment” with the GMA-7 owners but confirmed that there were previous ones. He described these recent talks as “very, very preliminary.”
GMA-7 is controlled by its chairman Felipe Gozon and the families of Duavit and Jimenez. Gozon had said that his stake in GMA is for sale at the “right price.”
Gozon had said he was “flattered” by Pangilinan’s expression of continued interest but “there has been no price offered that could form the basis of discussion between the parties.”
When asked to comment on this Pangilinan said, “Nag-iisip pa ang suitor.”
“I am not familiar with the dynamics of their decision making process,” said Pangilinan when asked if the major shareholders have already agreed to sell the network.
TV5 in 2012
Ray Espinosa, TV5 president and a member of PLDT’s board of directors, said the group expects TV5 to generate revenues of over P4 billion in 2012.
Espinosa said they expect ratings and advertising revenues to improve after TV5 registered P2.6 billion gross revenues in 2011.
“This year, our revenue target is over P4 billion and we are confident of hitting that just as we hit our target revenue in 2011,” he said.
TV5’s has budgeted capital expenditure of P3 billion for 2012, a billion pesos higher than 2011.
“This is our programmed capex for the year as we are set to transfer to our new office by middle of this year,” added Espinosa.
For 2013 and 2014, TV5 has programmed a total of P4.5 billion for capex. – Rappler.com