The End Of GMA 7
“Our net income took a beating..We experienced the lowest net income level, of the past 5 years in the 4th quarter of 2011..”,admitted and verified by GMA Channel 7 vice president for finance, Ronaldo P. Mastrili.
Added to that, the GMA 7 “Kapuso” chair and CEO Felipe L. Gozon is sure to sell the TV network to PLDT/Smart/Sun/TV5’s chair and CEO Manuel V. Pangilinan for P60 billion pesos but Pangilinan wants to buy the TV network between P45 billion pesos and P51 billion pesos.
Morever, GMA 7 advertising revenue has dropped into P13.08 billion pesos.
The sell of GMA 7 according to GMA Network president Gilberto Duavit Jr. is inevitable. “The is not to say that GMA 7 will not be sold, but at the moment we are presently not pursuing serious negotiations with the PLDT group because they have not offered us a price that is acceptable to our shareholders..”
But in contradictory report, GMA 7 executives says that the TV network is not for sale, however, they themselves claim that it can sold if the price is right. Therefore, GMA channel 7 is indeed for sale and GMA channel 7 is indeed lying that they rule the Philippine Televison.
For if they rule the Philippine Television how come they themselves admit that they lost revenues mostly last year and the TV network is for auction and PLDT/Smart/Sun/TV5 chair and CEO Manuel V. Pangilinan is buying the TV network for P60 billion pesos?
However, Chair and CEO of GMA 7 Atty. Felipe Gozon, said in contradictory statements regarding the report or rumor as he said though there are already some proofs that GMA 7 is ready for sale and Manuel V. Pangilinan is buying it.
“…”Out of this world naman yun…That is a very wild rumor.”
“”Kung may mag-o-offer ng P500 billion, kahit tulog ako, gisingin n’yo ako, I will sell.”
Therefore, the rumor is true that it could be the end of GMA 7 or let us see what will happen next though the TV network executives are denying it on media.