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Dec 27, 2011

GMA: no truth to rumors on MVP buying GMA network

Davao Tours B | Dec 27, 2011

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GMA News 
On Tuesday GMA Network posted on its Twitter account and denied the rumor circulating that GMA has been bought by tycoon businessman Manny Pangilinan.

“There is no truth to the rumor that is circulating that MVP has bought GMA 7. In fact, there are no negotiations going on between GMA 7 and MVP for the latter's purchase of GMA 7,” according to an online report posted on GMA website.

“GMA Network also issued a statement to both the Securities and Exchange Commission and the Philippine Stock Exchange, saying it is not true that Pangilinan offered to buy GMA for P500 billion.”

Meanwhile, Coco Alcuaz an ABS CBN reporter tweeted that “Pangilinan declines to comment on GMA speculation, saying he's on ``half vacation'' mode. Official statement to come ``in due course.''”

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