After the failed attempt between the merger of Manny Pangilinan and GMA Network, The Company has been informed by its major shareholders that they have agreed to sell to Mr. Ramon S. Ang a participating minority equity interest in the Company’s outstanding capital stock, subject to the final terms and conditions of the share purchase documents, which the parties are presently negotiating.
“An appropriate disclosure shall be made upon execution of the relevant definitive agreements by the parties for the transaction.” this is according to PSE online.
My knowledge about acquisition, merger and consolidation can be traced from my accounting and law books way back in college. And I have been waiting for this stock acquisition since 2013.
What we can confirm right now is that the Jimenez, Gozon, and Duavit groups of stockholders have decided to sell a minority stake to Mr. Ramon Ang. Details of the transaction will be disclosed once we have finalized everything,” says GMA Network Chairman and CEO Felipe Gozon.
GMA booked a net income of P1.67 billion in 2013, up 3% from P1.62 billion in 2012. ABS-CBN had a net income of P2 billion, versus P1.6 billion the previous year, while TV 5 has been incurring losses the past years.