MVP in talks to buy GMA Network (Philippines)

> Businessman Manny V. Pangilinan (MVP), owner of third broadcast industry player TV5 and telecoms giant Smart Communications, has confirmed that he is in talks to buy GMA Network.

MVP in an interview with ABS-CBN said preliminary negotiations were held in 2002 and about five years ago. GMA management reportedly declined to comment on the matter, but in December 2011 the network denied there was an offer from Pangilinan.

Image Credit: CoolBuster

If the deal pushes through, GMA will be an addition to MVP’s media business that includes TV5 and Business World. He also has an investment in the popular news website Rappler.com.

MVP chairs Philippine Long Distance Telephone Company (PLDT), Associated Broadcasting Company (TV5), Smart Communications, SPi Global, Stradcom International Holdings Inc., Cignal Digital TV, Pilipino Telephone Corporation (Talk 'N Text), First Pacific Tollways Corporation, Metro Pacific Investments Corporation, and Philex Mining Corporation.

He is the President and Chief Executive Officer of Meralco and the Chairman of the San Beda College Board Of Trustees.

MVP reportedly assured GMA employees and talents that they will not lose their jobs once he already owns the network.

Reference used: Wikipedia.org

Posted in: abs-cbn news, business, Businessman, Manny V. Pangilinan, owner of third broadcast industry player TV5, PLDT, San Beda College Board Of Trustees. mvp owns gma network, Smart Communications, spi global