THE PHILIPPINES, JANUARY 19, 2012: Do you have PHP 200 billion? Because that’s Atty. Felipe Gozon’s price for his shares in the country’s second biggest media group, GMA-7.
The trade name GMA-7 is owned and controlled by three families – the Gozons, Duavits, and Jimenezes – since 1974, and the lawyer said during the network’s trade launch that, for him, “GMA is for sale for the right price.” The media mogul said that he is not the only owner of the network and he is naming the price only for his shares.
GMA News, through its official Facebook account, clarified the issue that the entire network is up in the market through a statement from Gozon: “We are not actively looking for buyers or peddling the station. But as I have said, if I receive an offer of a high price like P200 billion, I am willing to sell MY shares. I cannot speak for the other owners.”
It will be remembered that there had been rumors of a PHP500 billion offer from Manny Pangilinan to buyout GMA-7. The news of the supposed transaction circulated around the web at the end of 2011. Pangilinan, who chairs rival network TV5, and GMA-7 have already denied the reports. Gozon further added that GMA-7 is not in any talks with any group about the sale of the company.
GMA Network is publicly listed to have a market share of around PHP 22B, almost a hundred percent lower than Gozon’s asking price for just his own shares.
