Pangilinan supposedly made a “mind-boggling” and irresistible offer to acquire GMA-7, said the Philippine Entertainment Portal or PEP.ph in a news alert.
The deal is “two-thirds” done, the website said.“Meron pa raw kasing pamilya na hindi kumbinsido, o dili kaya’y nagho-hold out for a better deal,” said PEP.ph, referring to the three families that own GMA Network Inc. – the Gozons, Duavits, and Jimenezes. (One family is reportedly unconvinced, or is holding out for a better deal.)
“Pero sa lumulutang na figures, mukhang mahirap nang matapatan ang offer ni MVP,” PEP.ph explained, without stating the exact figures. (But based on the rumored figures, it seems that MVP’s offer is difficult to match.)
The reported deal, eventually placed at "P500 billion," was denied by GMA Network.
“We would like to inform you and the public that there is no truth to the said report,” said GMA Network vice president for investor relations and compliance Ayahl Ari Augusto Chio told the stock exchange in a disclosure.
Reynaldo Espinosa, president of ABC Development Corp, which runs TV5, also denied the reported talks. "That 'news' is not true," he texted Rappler.com from abroad when asked about it.
"If that was possible, we would be open minded about it," he added when asked if buying a new station is considered by the group.
As of 11:14 a.m., the keywords “GMA 7” and “MVP” were the Philippines’ eighth and ninth Twitter trending topics, respectively.
Update: GMA Network released a statement saying that there's no truth on that report.
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