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Thursday, June 21, 2012

GMA7 - TV5 merger: ABS-CBN unthreatened

ABS-CBN is unthreatened by the possible merger of its rivals GMA-7 and TV5.

According to ABS-CBN News, the company’s chairman and chief executive officer Gabby Lopez said he does not think the merger would change the landscape of the broadcast industry.

“It doesn’t change what we have to do. We’re very focused on our own strategy. The number of channels that we have to compete against remains the same. As far as we’re concerned, we just have to execute and we’ll be okay,” reportedly said during a press conference.

Business tycoon Manuel V. Pangilinan (MVP), who owns TV5, earlier said the deal may be finalized within the year.

“We are in discussions with GMA-7. Nothing has been finalized. Discussions are moving positively. To come to terms, many issues [needs] to be discussed,” he said, according to reports.

It was also reported that the deal could be worth “less than P100 Billion.”

source & image credit: coolbuster.net


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