SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
The gap between the profits of the two biggest media groups in the Philippines is closing in. There is a slim P91 million difference between ABS-CBN’s P1.708 billion net income for 2012 and GMA Network’s P1.617 billion. For years, the gap were in billions of pesos. Both, however, reported lower profits. GMA-7’s was down 5% largely due to soaring costs, while ABS-CBN’s was down 29% largely due to the absence of one-time gains from cable unit SkyCable. Taking this gain out, ABS-CBN’s 2012 core net income rose 23% to P1.032 billion. Both expect better performance in 2013, an election year, which means more revenues from political ads.
Read more about ABS-CBN’s performance on Rappler.
Read more about GMA Network’s performance on Rappler.
Read more about ABS-CBN’s performance on Rappler.
Read more about GMA Network’s performance on Rappler.
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