January 2014 b issue

Page 1

Celeb Scoop

E E FR

page 25

Connecting Global News & Views For The Community

UK & Europe Edition

January 2014 / Fortnightly

Volume 5 - Number 2

www.hello-philippines.com

SANDIGAN AWARDS ILLGOTTEN MARCOS JEWELRY PLDT eyeing minority stake in GMA

MANILA - The chairman of Philippine Long Distance Telephone Co (PLDT) said it is eyeing to acquire a minority of GMA Network Inc. “It is fair to say that it is still under negotiations. It’s been postponed because of the holidays,” Manuel V. Pangilinan said last Friday. He said the talks may resume this week. When asked how big a stake PLDT is acquiring, Pangilinan said, “I think minority is a fair statement.” He said acquiring GMA “would be helpful” to the PLDT group to meet its goal of becoming a multimedia company. Pangilinan said content is becoming an important part of PLDT’s fixed line business. The revival of talks between PLDT and GMA Network came after ABSCBN Corp had struck a partnership with Globe Telecom. The ABS-CBNGlobe partnership would allow the Lopez-owned broadcast company to distribute its media content using the

Ayala-led telco’s mobile network. In October 2012, PLDT and GMA terminated discussions for the telco’s buyout of the broadcast firm’s major shareholders—the Gozon, Duavit and Jimenez families—who own a combined 79 percent of the network. Pangilinan had said disagreement over regulatory risk-sharing led to the collapse of negotiations. Any PLDT acquisition of a broadcast network would have to go through the gamut of regulatory and Congressional approvals. As it already owns TV5 and BusinessWorld—as well as minority stakes in Philippine Daily Inquirer and Philippine Star—PLDT’s bid for GMA would attract close scrutiny, if not opposition from certain quarters concerned over the concentration of media power in one conglomerate. InterAksyon.com is the online news portal of TV5, a member of the PLDT group. ■ Darwin G. Amojelar / InterAksyon.com / January 12, 2014 11:50 PM

COLLECTION TO GOVERNMENT Story on page 4


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