GMA Network, Inc. (Photo credit: Wikipedia)The Ayala Group’s plan to integrate telecommunications and media could have happened several years ago had it succeeded in reaching a deal with GMA Network Inc.
The conglomerate, which owns the country’s second biggest telco (Globe Telecom), once trained its sights on GMA-7 but talks failed to reach advanced stages.
When asked to confirm this, GMA-7 chairman and chief executive officer Felipe Gozon said: “Yes, several years ago.”
Gozon did not elaborate although he was quick to point that the Ayala conglomerate has not made any overtures lately.
In his previous interviews, Gozon said a big conglomerate aside from telecommunications giant Philippine Long Distance Telephone Co. has expressed interest in GMA-7. He did not name the interested party though.
While the network is free to entertain other groups, GMA-7 is talking only to the PLDT Group at the moment, struggling to close a big-ticket deal that would give the Manuel V. Pangilinan-led group a leading market position in the broadcasting industry. The deal, when consummated, will likely change the face of Philippine broadcasting and telecommunications.
With the telecommunication industry grappling with shrinking profitability and increasing pressure from social networking sites, Globe Telecom recognizes the need to look for new avenues of growth in order to create a sustainable competitive advantage in its markets.
Globe president Ernest Cu in earlier interviews said the company is considering offering “new age” content, whether news or entertainment, to its subscribers.
http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=849610
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