The chairman of PLDT Group remains keen on acquiring a stake in GMA Network Inc., despite the failed negotiations in the past.
“Well, we are always open,” Manuel Pangilinan, who is also the chairman of TV5 Network Inc., said when asked if he was still interested in buying into GMA-7.
Pangilinan, however, said there was “no discussion yet” with the owners of the network.
Talks between PLDT and GMA Network did not push through due to price and regulatory issues.
Pangilinan’s statement came after GMA chairman Felipe Gozon said he was open to revive talks to sell a substantial stake in the broadcast network.
“I am not the one reviving. The buyers are the one trying to revive. As of now we are not talking, but we are going to talk,” Gozon said on May 15.
“We are open anytime, but the offer must be acceptable to us,” he said.
Gozon said they were in talks with the same interested potential investor.
The Gozon, Jimenez and Duavit families own a combined 79 percent of the network, which airs on Channel 7 on free TV.
Majority shareholders of the broadcaster earlier agreed to sell about 30 percent of the company to Ramon Ang, but the negotiation bogged down after more than a year of talks.
PLDT, partly owned by Hong Kong’s First Pacific Co. Ltd. and Japan’s NTT group earlier posted a net income of P4.95 billion in the first three months, down 20 percent from P6.21 billon in the same period last year.
Core profit, which excludes foreign exchange gains or losses and other non-recurring income, dropped 26 percent to P5.3 billon as consolidated service revenues fell 7 percent to P35.6 billion from last year’s P40.59 billion.
