Atty. Felipe Gozon: “I will sell GMA Network for P100 billion!”

It was mentioned by Atty. Felipe L. Gozon, the Chairman and CEO of GMA Network, in his interview with the reporter Mary Ann Ll. Reyes of Philippine Star yesterday that he’s already open with selling the network, May 17, 2012

It was stated that GMA Network, Inc. is bargained by P100 billion.

According to Atty. Gozon, “I will sell [GMA Network] for P100 billion, and this includes the 23 percent held by the public.

“I will sign with my eyes closed.”

ACCEPTABLE OFFER. Last April, there were controversies that Manny V. Pangilinan, known as the chairman of large companies like TV5, PLDT and Smart Communications, of having interest in buying the said network offering an amount of around P45 billion.

However, Atty. Gozon uttered that it’s not only MVP who is showing or expressing his interest in buying the Kapuso network.

“There were others who expressed interest,” he said.

But in line with that statement, he refused to drop names of who are interested to buy the said company.

Atty. Gozon said, “Of course, Filipino conglomerate.

“GMA is very attractive and desirable not only to MVP.

“If we receive an acceptable offer, then we will sell our entire stake in the company.”

There were no negotiations going on with those people who are showing their interest with the Kapuso network.

But Atty. Gozon admitted that MVP has expressed his interest with the network, long time ago.

“The first transaction did not push through but his interest remained.

“But the company remains very attractive and desirable not only to MVP.

“There were others that expressed interest.”

INCREASING OUR REACH. Meanwhile, Atty. Gozon together with GMA Network President Gilberto Duavit Jr., and GMA Network EVP and Chief Financial Officer Felipe S. Yalong, as they continue on planning and thinking of possible and good strategies on how to enlarge more the Kapuso network.

They are planning and proposing to expand more the reach of their network in certain provinces.

Mr. Duavit said that, “We are moving towards the rural areas and increasing our reach in Northern Mindanao and portions of the Visayas.

“We acknowledge that ABS-CBN is ahead in terms of the rural areas but they were 10 years ahead.

“If you look at the Philtam (total nationwide), the difference is a lot more encouraging than we expected.

“It is not an insurmountable difference. We are looking at winning even in rural areas this year.”

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