Jun 14, 2012

TV5-GMA7 deal 'final' by end-2012, says MVP



The much discussed merger between the second and third largest television stations, GMA-7 and TV-5 may be completed before the end of the year, according to TV5 chair Manuel Pangilinan.

tv5-gma7-merger

Pangilinan said at the sidelines of a PLDT annual stockholders meeting on June 14 that nothing has been finalized but discussions are moving positively.

He said there were "positive vibes" between the two companies. He said discussions started before his trip to the U.S.

Pangilinan was among the business delegation joining President Aquino's overseas trip.
"We are in discussions with GMA-7… Nothing has been finalized... Discussions are moving positively…To come to terms, many issues to be discussed," he added.

When asked how much the deal price would be, Pangilinan replied, "below P100 billion."
He said the agreement with GMA-7 may be finalized "within the year… However, there are conditions precedent before closing of transaction [including the] approval of government."
On the issue of monopoly, Pangilinan replied, "there are many TV stations."

Source: Rappler

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