Investing Stocks in Philippines: gma network

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Saturday, January 19, 2013

Stock News 2013: TV5 allots P6B for capex

GMA Logo in their 60th Anniversary (Photo credit: Wikipedia)

ABC Development Corp., owner and operator of TV5, is infusing P6 billion for its capital expenditures this year to boost its efforts to cut losses since dominant carrier Philippine Long Distance Telephone Co. (PLDT) acquired the network in 2009.

PLDT chairman Manuel V. Pangilinan told reporters on the sidelines of TV5’s “Blast Off for 2013” that the country’s third largest network’s budget for capital expenditures this year would be at par with the amount spent by the company last year.

This year’s budget would be allocated to complete the network’s state-of-the-art media center in Mandaluyong City with the news part scheduled to be finished in the first quarter.

“The capex would be around P6 billion, approximately the same as last year. We are still building our entertainment studios in Mandaluyong and the news part will be finished within first quarter this year,” Pangilinan said.

He added that a portion of the amount would also be used to introduce new shows as the network goes full throttle towards being one of the country’s leading multimedia this year.

TV5 welcomed the new year with its biggest show of force as it launched its biggest offerings for the first quarter of the year.

The PLDT chief pointed out that the company’s reprogramming would redound to improved bottomline as TV5’s losses ballooned to about P2.8 billion in the first half of last year.

“We should be better this year with better programming, better talents, and revenues I think,” Pangilinan said.

He said the company is now in the process of trimming its operating and production costs.

“It is a learning process for us in terms the ability to control cost of mounting a production whether it is a teledrama or a comedy. We are learning how to control the cost of production,” he explained.

According to him, TV5 would be able to sustain its strong finish last year after overtaking GMA Network Inc. (GMA7) in the last quarter in six viewer rich cities in Metro Manila including Iloilo, Cebu, Davao, Cagayan de Oro, Bacolod, and General Santos City that has a total four million viewers based on Nielsen TV Audience Measurement.

http://philstar.com/business/2013/01/17/897750/tv5-allots-p6b-capex-will-launch-new-shows

Tuesday, January 1, 2013

Stock News 2013: TV5 braces up for more losses

Logo used from August 9, 2008 to April 3, 2010. Now as a secondary logo. (Photo credit: Wikipedia)

Pangilinan-led Associated Broadcasting Corp. (ABC), operator of television network TV5, will continue to post heavy losses in 2013 as the company struggles to compete with rivals that corner the lion’s share of industry ad revenues.

TV5 chair Manuel V. Pangilinan said the company had also struggled to keep costs down amid efforts to complete the network’s program lineup and hire talents.

“TV5 will continue to struggle,” Pangilinan told reporters at a recent briefing. “It will take longer than expected to make profits,” he said.

“There’s a lot of cost-cutting and we still have to finalize our program grid,” he said, adding that production costs would still rise as the company continued creating more shows.

TV5 earlier said it was targeting 2014 as its first year of profitability under the Pangilinan group, which took control of the network in 2009.

Earlier this year, TV5 president and CEO Ray C. Espinosa said the company’s profit target was under review due to factors that had not been identified when the goals were first set. One of the factors was the debt crisis in Europe, which led to a cut in advertising spending by multinational companies operating in the Philippines.

TV5’s bigger rivals, GMA Network Inc. and ABS-CBN Corp., have seen their revenues trimmed this year due to an industry-wide drop in advertising spending.

In the first half of 2012, TV5 lost P2.8 billion and this would likely be matched in the second half of 2012, Pangilinan said. This means the whole-year loss would exceed the P4.1 billion it lost in 2011.

While losses would remain big in 2013, TV5 aims to increase revenues with better programming during the primetime slot, when ad minutes are most expensive, said Pangilinan.

“The key variable when we were starting was Willie Revillame. We needed someone like him to give the first boost for TV5 … to anchor the primetime,” he said.

He said that since the gameshow host had agreed to move his show to the noontime slot, the primetime slot was freed for more shows that the company could sell to advertisers.

http://business.inquirer.net/99963/more-airlines-flying-to-ph-if-govt-scraps-carriers-tax-ftip-official

Tuesday, November 6, 2012

Stock News 2012: Huge downpayment, regulatory approvals scuttle GMA-PLDT deal

GMA Network reportedly demanded billions of pesos paid once a memorandum of understanding (MOU) is signed with the group of Manuel V. Pangilinan, whether or not the latter’s bid to acquire the private stake in the broadcasting company pushes through.

This, as well as other non-monetary demands, led Pangilinan’s group to no longer pursue its quest to purchase the over 70 percent stake held by the Gozon, Jimenez, and Duavit families in GMA, The STAR learned.

Sources revealed that the billions of pesos in fees, which is on top of the reportedly over P50 billion purchase price, was to paid after the MOA is signed and before the closure of the deal. Other requirements prior to closure include securing all the necessary government and regulatory licenses and approvals, all to be secured by the PLDT Group.

Without GMA help, securing the necessary licenses and approvals will not be easy, a source said.

It was not immediately known why the owners of GMA wanted the inclusion of the provision on the “fee” in the discussions when during the Pangilinan’s group’s first attempt to takeover GMA, there was no such demand.

Sources privy to the recently failed negotiations revealed that Pangilinan’s group felt that the owners of GMA were just not interested to sell. “This was not something an interested seller would ask for,” a highly placed source said.

When the two parties jointly announced early last month that the discussions are no longer pushing through, they said that it was not about the purchase price.

The acquisition of GMA by PLDT Beneficial Trust Fund unit Mediaquest was supposed to be part of Pangilinan’s aim for the Philippine Long Distance Telephone Co. (PLDT) to transform into a multi-media company. The group owns minority stakes in The Philippine STAR, Philippine Daily Inquirer and Business World, and controlling interests in TV5 and Cignal, a direct-to-home (DTH) satellite company.

The acquisition of GMA, STAR sources revealed, augurs well with plans of Hong Kong-based First Pacific Co., which controls PLDT, to have a regional presence in the broadcasting field.

Pangilinan earlier said he is in talks with Anthoni Salim, chairman and controlling shareholder of First Pacific, to acquire Salim’s Indonesia-based TV station.

It was also learned that First Pacific is also eyeing a TV network in Vietnam.

In 2001, PLDT engaged in talks with the owners of GMA, but negotiations bogged down over issues encountered by the prospective buyer.

“2001, if I recall correctly was P14 billion (amount being offered for GMA). It’s just that Home Cable came ahead of GMA by a few months. In 2001 and 2002, PLDT was not in good shape. If GMA came in first, I think we would have chosen GMA. But that’s fate,” Pangilinan earlier said.

http://www.philstar.com/Article.aspx?articleId=866791&publicationSubCategoryId=66

Sunday, September 16, 2012

Stock News 2012: Before MVP, Ayala showed interest in GMA-7

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

Friday, August 10, 2012

Stock News 2012: GMA-7 bucks shift to Japanese standard for digital terrestrial TV

GMA Network, Inc. (Photo credit: Wikipedia)GMA Network Inc. (GMA-7) is strongly opposing the plan of the National Telecommunications Commission (NTC) to shift to Japanese standard for the country’s migration to digital terrestrial TV.

In an interview with reporters, GMA-7 chairman Felipe Gozon said the broadcasting firm was more inclined to adopt the European standard as about 90 percent of its equipment is already digital.

“Since we are going to invest our money, it is our study that will control our decisions. It’s as simple as that, but we already told the NTC we are studying the European standard,” Gozon explained.

According to him, the government should allow broadcasting companies to decide on their own which technology to adopt due to the capital intensive nature of the industry.

“I don’t know how the government can force us to use the Japanese standard because we are going to use our money to buy the equipment. We are not going to borrow from them. Does the government dictate on Philippine Airlines what aircraft it will buy?” he asked.

The NTC and the Department of Science and Technology (DOTC) are set to recommend to Malacañang the use of Japan’s Integrated Service Digital Broadcasting-Terrestrial or ISDB-T standard.

The agencies picked the Japanese standard because it is cheaper than Europe’s Digital Video Broadcasting-Terrestrial 2 or DVB-T2.

Malacañang has commissioned Information and Communications Technology Office (ICTO) last year to draft the migration plan to aid the government in deciding which standard to use in the country’s shift to digital TV

ICTO said the Japanese is a more appropriate model as the European model has higher modulation and has more complicated modulation techniques.

The ICTO endorsement backs the Kapisanan ng mga Brokaster ng Pilipinas (KBP) and an NTC technical working group’s recommendation last year to adopt the Japanese model.

The Philippines had planned to migrate from analog to digital TV come 2015. Free-TV or non-cable households comprise 90 percent of the country’s 17 million TV viewers.

http://www.philstar.com/Article.aspx?articleId=835029&publicationSubCategoryId=66

Monday, July 23, 2012

Stock News 2012: MVP purchase of GMA-7 almost a done deal

GMA Network, Inc. (Photo credit: Wikipedia)
The group of telecommunications magnate Manuel V. Pangilinan’s acquisition of GMA Network Inc. is almost a done deal with the likelihood of taking in one or two investors to pick up a small minority stake in the broadcast firm, sources said.

Sources privy to the negotiations said financing for the purchase of GMA-7 is already in place and all that remains is some paperwork to finalize a deal with the Gozon, Duavit and Jimenez families, who own a controlling stake in the television network.

“It’s just a matter of time. Just the final paper work. Financing in place. Also possible that another person or two will come in for a small minority,” the source said.

Pangilinan told reporters last week that his group was willing to acquire GMA-7 at a price higher than the nework’s market capitalization, which stood at P33.95 billion as of Friday.

Sources said the three major owners of GMA-7, which collectively own 77 percent of the network, were willing to divest their stake for P55 billion to P60 billion.

Pangilinan said his group would pay in cash and that loans would only fund a small portion of the transaction.

He could not give a timetable for the acquisition, saying the proposed deal is subject to a lot of factors, which include approval of both the Congress and the National Telecommunications Commission.

Pangilinan, however, is hoping the deal can be finalized within the year.

He said Mediaquest, a unit of the Beneneficial Tust Fund of PLDT that also holds the group’s media assets such as a majority stake in Associated Broadcasting Co. or TV5 as well minority assets in several newspapers, would likely be the vehicle to be used in taking over GMA-7.

The acquisition of media assets is vital to the PLDT group’s goal of transforming into a multimedia and technology conglomerate as telecommunications companies across the global face intense competition from the so-called “over the top players like Facebook and Skype.

PLDT came close to buying a controlling stake in GMA in 2001. Talks, however, fizzled out down due to valuation issues.

The acquisition of GMA would catapult Pangilinan’s group to the number one position and would result to a virtual duopoly in the TV industry.

http://www.philstar.com/Article.aspx?articleId=830214&publicationSubCategoryId=66

Wednesday, July 4, 2012

Stock News 2012: GMA Network sustains streak of TV ratings win

GMA Network, Inc. (Photo credit: Wikipedia)
Broadcast company GMA Network delivered a consistent streak of winning television ratings performance in the first semester of 2012.

Based on January to June 2012 data from ratings service provider Nielsen TV Audience Measurement, GMA led competitors ABS-CBN and TV5 in National Urban Television Audience Measurement (NUTAM) with an average total day (6 a.m. to 12 mn) household audience share points of 35.5, higher than ABS-CBN’s 30.5 and TV5’s 14.6.

Relative to the first semester of 2011, GMA was the only television station that posted improvements in total day household audience shares. GMA’s share points improved by 2.4 points while ABS-CBN and TV5 dropped respectively by 1.6 points and 0.6 point.

At the period’s close this June, GMA maintained its number one rank in total day household audience shares with 34.4 points versus ABS-CBN’s 32.7 and TV5’s 13.7.

GMA’s lead in nationwide audience shares is mainly driven by its strong performance in the afternoon block (12 noon to 6 p.m.), where its programs averaged low to high 40s in household audience shares in NUTAM and in the strategically important areas of Urban Luzon and Mega Manila, which respectively comprise 77 percent and 59.5 percent of total urban television households nationwide.

On primetime, GMA maintained its single-digit margins over ABS-CBN and low 20s margins over TV5 in Urban Luzon and Mega Manila.

GMA’s lead across all timeblocks, including the heavily watched primetime TV, in the viewer-rich areas of Urban Luzon and Mega Manila and its dominance in nationwide TV ratings bring the station to the best position of being the advertisers’ top-of-mind media partner.

This June, GMA had 19 and 20 programs in the respective lists of overall top 30 programs in Urban Luzon and Mega Manila respectively.

GMA also dominated the lists of top 10 overall programs in both areas with seven entries in Luzon and eight entries in Mega Manila. Among the programs that made it to the top 10 in both lists were the Pacquiao-Bradley boxing match special, Legacy, The Good Daughter, Eat Bulaga, Kapuso Mo, Jessica Soho, and 24 Oras.

GMA’s dominance in television ratings rakes in more company income. In fact, GMA finished the first quarter of 2012 as the most profitable and cost-effective broadcast company with P388 million in bottom line.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=823737

Friday, June 15, 2012

Stock News 2012: Meralco says customers to see lower bills

GMA Network, Inc. (Photo credit: Wikipedia)
San Miguel Corp. (SMC) is betting big on the airline space with plans to invest in a regional carrier in line with its goal to double annual revenues to P1 trillion in the next few years through expansion beyond its traditional food and drink business.

At the company’s annual stockholders meeting yesterday, SMC president Ramon S. Ang said the conglomerate is looking at several airlines in the region as it further builds up its position in faster-growing and high potential industries such as power, mining, infrastructure, travel and possibly, broadcasting.

“We’re looking at several opportunities that will allow us to create synergy within the airline sector.

We’re planning to invest in a regional airline, a move that will allow us to eventually fly to Europe and other countries,” said Ang, who was credited by management for steering SMC to greater heights.

SMC acquired a substantial stake in flag carrier Philippine Airlines in April in a deal worth around $500 million. The conglomerate plans to support PAL’s fleet modernization and expansion program.

Ang said PAL is now in talks with aircraft manufacturers to acquire at least 100 new planes in the next five to seven years in line with its bid to turn around Asia’s oldest airline in two years. To achieve its goal, the company is seeking to restructure its operations to a low-cost carrier.

He said the group is also seriously considering breaking into the broadcasting industry but declined to give more details, pointing out they are open to participating in government auctions to spur faster growth. Ang earlier said they are open to acquiring state-owned stations IBC 13 and RPN-9.

When asked whether GMA Network Inc. is on its radar, Ang said: “We’d rather not comment. We’d like to keep things confidential.”

The group of telecommunications magnate Manuel V. Pangilinan earlier expressed interest to acquire GMA, which is keeping its options open with respect to the possibility of putting it up for sale.

SMC chairman and chief executive officer Eduardo Cojuangco Jr. said that while the group’s P1-trillion sales target may be ambitious, this can be done through further acquisitions, pointing out that the group’s infrastructure projects will begin generating significant growth by 2015.

“From the period 2011 to 2015, we expect San Miguel to post strong double-digit compounded annual growth rate, driven primarily by the earnings contributions from our new businesses, mainly power and Petron,” Cojuangco said.

In 2011 alone, consolidated sales revenues reached P536 billion, more than double the previous year’s P246 billion.

New businesses contributed over P345 billion or an estimated 63 percent of the groupwide sales last year.

Expected to contribute significantly to SMC’s bottomline are investments in Exxon Mobil’s downstream oil business in Malaysia and its stake in the firms operating Skyway and South Luzon Expressway.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=817225

Monday, May 14, 2012

Stock News 2012: ABS-CBN income falls 69% to P306 million in Q1

Logo for ABS–CBN Corporation (Photo credit: Wikipedia)
Multi-media conglomerate ABS-CBN Corp. said its net profit declined 69 percent in the first quarter this year to P306 million, from P976 million a year ago when it booked gains from the sale unit of Sky Cable’s Philippine Depositary Receipts (PDRs).

Stripping the one-time gain of P674 million in 2011, however, ABS-CBN’s net income would have been up one percent on a recurring basis, the company said.

Consolidated revenues rose eight percent to P7.1 billion, 59 percent of which or P4.2 billion came from advertising.

Advertising revenues across all platforms and subsidiaries went up four percent to P4.2 billion.

But earnings before interest, taxes, depreciation and amortization (EBITDA) fell 35 percent to P1.4 billion.

Consumer sales climbed 15 percent to almost P3 billion, largely driven by the 12 percent growth in Sky Cable’s revenues owing to the nine percent rise in postpaid service and 31 percent hike in broadband service revenues.

Revenues from its international unit, ABS-CBN Global, improved three percent on the back of a three percent rise in overall viewer count to around 2.5 million as of end-March this year. Double-digit growth in subscribers continued to be experienced in Canada, and singledigit growth in all other territories except Japan and Europe where subscribers declined.

ABS-CBN maintained its national audience share and ratings leadership with prime-time audience share averaging 42 percent during the period under review, with a 12 percentage point lead over main rival GMA’s, according to Kantar national TV ratings data.

Total operating and other expenses jumped by 27 percent to P6.1 billion. Production costs increased 10 percent to P2.5 billion

The company has earmarked around P5 billion for its capital expenditure program this year, majority of which or P2 billion will go to the continued expansion of the broadband business. Around P1.2 billion will be channeled to flagship station Channel 2.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=807032

Thursday, October 28, 2010

Stock News 2010: PSE Revamps Index, 3 Firms to Be Replaced

Image via Wikipedia

MANILA, Philippines – The Philippine Stock Exchange (PSE) said Thursday that its latest revision of the composite Philippine Stock Exchange Index (PSEi) will see three stocks - diversified San Miguel Corp. (SMC), Security Bank Corp. (SECB) and broadcast company GMA Network Inc. (GMA7) – dropped from the roster of 30 companies comprising the bellwether index.

The three stocks will be replaced by construction, mining and property group DMCI Holdings Inc. (DMC), power generation company First Gen Corp. (FGEN) and conglomerate JG Summit Holdings Inc. (JGS), the bourse said.

The revisions to the PSEi and other sectoral indices will be implemented on Nov. 8.

The PSE's corporate services division said San Miguel was dropped from the PSEi as its free float level declined to 8.6 percent, below the minimum requirement of 10 percent. GMA Network and Security Bank failed to make it to the exchange's list of top 30 companies in terms of market capitalization, the division added.

The other requirements for inclusion on the PSEi is liquidity or average daily trading value of at least P5 million, tradability of at least 95 percent of total trading days and volume turnover ratio of at least 10 percent.

http://www.mb.com.ph/articles/284742/pse-revamps-index-3-firms-be-replaced

Friday, August 20, 2010

Stock news 2010: PSEi (Philippines Stock Exchange index) highest dividend yielding stock as of August 20, 2010

Image via WikipediaPSEi (Philippines Stock Exchange index) highest dividend yielding stock as of August 20, 2010 07:49:46 CET

Stock name	Last trade	P/E	ROE	Yield %
GLOBE TELECOM	783.00	10.0	26.0	16.60
SAN MIGUEL CORP B	66.50	30.9	32.2	9.62
SAN MIGUEL CORP A	67.80	31.5	32.2	9.44
PHILIP. LONG DIST. TEL. COMP.	2.00	11.0	40.3	9.10
GMA NETWORK	6.10	9.4	22.1	7.38
MANILA ELECTRIC COMPANY	178.00	25.9	10.9	4.02
MANILA WATER COMPANY	17.50	13.4	21.2	3.77
BANK OF THE PHILIP. ISLANDS	48.70	18.6	13.1	3.60
FIRST PHILIPPINE HOLDINGS	58.70	1.1	29.6	3.41
PHILIPPINE STOCK EXCHANGE	295.00	43.3	10.9	3.39
ROBINSONS LAND CORP	14.40	11.2	13.5	3.33
UNIVERSAL ROBINA CORP	35.00	9.2	11.5	2.69
FILINVEST LAND	1.26	13.2	5.2	2.64
SECURITY BANK CORP	77.00	9.4	20.1	2.60
ENERGY DEVELOPMENT CORP	4.89	15.5	11.9	2.46
JOLLIBEE FOODS CORP	79.30	29.3	17.5	2.41
ABOITIZ EQUITY VENTURES	21.95	7.5	20.1	2.37
DMCI HOLDINGS	21.85	8.7	25.3	2.29
SM PRIME HOLDINGS	11.34	20.5	14.9	2.21
SM INVESTMENTS CORP	480.00	17.1	13.6	1.64
ABOITIZ POWER	18.92	8.3	17.5	1.59
BANCO DE ORO UNIBANK	50.75	15.6	10.4	1.58
METROPOLITAN BANK & TRUST	66.10	19.1	8.7	1.51
PHILEX MINING CORP	9.87	17.0	19.6	1.42
INTERN. CONTAINER TERM. SERV.	34.00	19.9	12.8	1.18
AYALA	342.00	25.2	7.6	1.17
MEGAWORLD CORP	1.98	11.6	9.2	0.96
ALLIANCE GLOBAL GROUP	6.95	11.2	10.0	0.86
AYALA LAND	16.30	46.4	8.1	0.46
FIRST GEN CORP	10.24	0.0	2.9	0.00

http://www.topyields.nl/Top-dividend-yields-of-PSE.php

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