PANGILINAN: NO TV5, GMA7 MERGER / MVP MISQUOTED ON
MERGER RUMOR
[PHOTO - TV5's Manuel V. Pangilinan]
MANILA, JUNE 5, 2012 (INQUIRER) By: Bayani San Diego Jr.,
Marinel R. Cruz - The denial came just as swiftly as the "confirmation."
When business tycoon Manuel V. Pangilinan addressed a media gathering in San
Francisco, Calilfornia, on Friday, he seemed to speak for two television
networks: TV5, which he chairs, and GMA 7, which he has been trying to buy
through the Philipine Long Distance Telephone Co., of which he is also chair.
The occasion was the contract signing between TV5 and Dish Network, as a
result of which the cable provider now offers subscribers shows from the two
Philippine TV channels. Pangilinan urged Filipinos across North America to
"support TV5 but also not to forget GMA 7."
The Philippine Daily Inquirer asked Pangilinan whether his statement meant
the long-rumored merger of two networks was a done deal.
Pangilinan merely said discussions were "still ongoing" and "nothing has been
finalized." The negotiations were "taking time," he added, because many aspects
had yet to be resolved, not the least of which was for how much shareholders
were willing to sell GMA 7. He promised to "definitely announce" developments
even if, in the end, nothing came of the talks.
He explained his apparent endorsement of Kapuso programs to Dish Network
subscribers: "We need to help each other to reach more Filipinos abroad. They
are helping us. We are cooperating."
Asked how he saw the Philippine broadcast industry evolving in the next five
years, Pangilinan said, "It would be run … not by me entirely. I hope there will
be others in command, but we will definitely be a major player."
A few days back, the Inquirer asked Felipe L. Gozon, GMA 7 chairman and chief
executive officer, if there was truth to the rumor that the merger was due in
November. Gozon's response via text: "No."
On Monday, Pangilinan denied that what he said at the contract signing in San
Francisco was a confirmation of anything. It turns out, Gozon and Pangilinan had
quickly gotten in touch after speculation to that effect came out in another
paper.
Gozon forwarded to the Inquirer a text message from Pangilinan's camp: "MVP
was misquoted… The TV5-GMA 7 bundled offering … is a marketing strategy of the
Dish Network." The "bundling," an insider pointed out, was precisely what
brought about the confusion.
The text from Pangilinan's camp further said: "There is no such thing as a
November deadline. We do not know where that came from … [the two camps still
have to agree on] price and other essential matters."
Gozon said he couldn't "add to what TV5 said."
TV5 star Sharon Cuneta told the Inquirer that the text originally came from
Ray Espinosa, TV5 president and chief executive officer.
Butch Raquel, GMA 7 consultant for corporate communications, maintained that
the network was not in a position to comment on Pangilinan's supposed
confirmation of a merger because "we are not the source of the information."
Raquel added: "To our knowledge MVP has clarified that he was misquoted."
FROM ABS-CBN
MVP 'misquoted' on TV5-GMA merger: Espinosa
ABS-CBNnews.com Posted at 06/04/2012 11:14 AM | Updated as of
06/04/2012 4:11 PM
MANILA,
Philippines (UPDATE) - Rumors of an impending merger between TV5 network and
rival GMA Network were once again ignited on Monday.
A report by Philippine Star columnist Ricky Lo published on Monday indicated
that the two networks have "merged" and will formally launch by the end of
November.
Lo's report said business tycoon Manuel V. Pangilinan "virtually confirmed"
the merger during a press conference in San Francisco, California on Saturday
for the partnership between TV5 and Dish Network. Dish Network offers both TV5
and GMA Pinoy TV to US subscribers.
However, Ray C. Espinosa, TV5 President and CEO, said the report "misquoted"
Pangilinan. He said no agreement has been made, although the interest in GMA
Network remains.
"MVP was misquoted. He did not say there was already an agreement between TV5
and GMA7. The TV5-GMA7 bundled offering on the Dish Network is a marketing
strategy of the Dish Network. This does not mean TV5 and GMA7 have already
agreed to merge," Espinoza said, in a statement.
"There is no such thing as a Nov. deadline. We do not know where that came
from. The interest in GMA7 remains but any transaction or deal would depend on a
meeting of minds as to price and other essential matters," he added.
At the same time, TV5 host Arnel Ignacio posted on Twitter a photo of a text
message he received from Pangilinan, who denied mentioning any merger with GMA
Network.
In the text message, Pangilinan did say that there were ongoing discussions
with GMA, but nothing has been finalized.
"All I said was - please support TV5 here in the States and by the way please
support GMA 7 too (since Dish carries GMA). That was all. No mention of merger,
investment, combination. Certainly, no mention of a November deadline, or any
deadline at all," Pangilinan's message read.
"Sure, some people speculated and all I said was I can now saw we re under
discussion but nothing finalized at this time," he added.
For its part, GMA Network told the stock exchange it was not in a position to
make a comment on the reported merger agreement with TV5.
"We are not in a position to comment since we are not the source of the quote
or information or to definitely say whether the information is accurate or not.
To the best of our knowledge, the source of this information is claiming to have
been misquoted," GMA Network said, in a disclosure to the stock exchange.
In the past few months, there have been persistent reports about the merger
between GMA and TV5, but both parties have played it coy.
Pangilinan has earlier said that his group would be interested in buying into
GMA Network.
However GMA Network chairman Felipe Gozon insisted they are not selling the
network, but are open to any possible buyout offers.
Gozon owns 20% of GMA, while the Duavit and Jimenez families own 23% each.
- With Coco Alcuaz, ABS-CBN News Channel
Chief News Editor: Sol
Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE
NEWS ONLINE
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