MVP says no formal or informal talks on GMA-7 deal

Rappler.com

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There were no talks between the 2nd and 3rd largest media network in the Philippines, businessman Manuel V. Pangilinan says

MANILA, Philippines – There were no talks between the 2nd and 3rd largest media network in the Philippines, businessman Manuel V. Pangilinan said.

“No talks, whether formal or informal,” Pangilinan said, referring to the long-rumored deal between TV5, where he is chair, and GMA Network, the operator of GMA-7.

Pangilinan was responding to questions on updates of what could be a game-changing deal in the media industry during the Metro Pacific Investments Corp (MPIC) press briefing on Wednesday, May 9, reiterating his statement at a Philippine Long Distance Telephone Co. (PLDT) briefing the day before.

He also said the P60 billion deal worth once floated by GMA chair and CEO Felipe L. Gozon “would be expensive.” – Rappler.com, with reports from Katherine Visconti

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