Pangilinan denies TV5 merger with GMA 7
TV5’s Manuel V. Pangilinan
The denial came just as swiftly as the “confirmation.”
When business tycoon Manuel V. Pangilinan addressed a media gathering in San Francisco, Calilfornia, on Friday, he seemed to speak for two television networks: TV5, which he chairs, and GMA 7, which he has been trying to buy through the Philipine Long Distance Telephone Co., of which he is also chair.
The occasion was the contract signing between TV5 and Dish Network, as a result of which the cable provider now offers subscribers shows from the two Philippine TV channels. Pangilinan urged Filipinos across North America to “support TV5 but also not to forget GMA 7.”
The Philippine Daily Inquirer asked Pangilinan whether his statement meant the long-rumored merger of two networks was a done deal.
Pangilinan merely said discussions were “still ongoing” and “nothing has been finalized.” The negotiations were “taking time,” he added, because many aspects had yet to be resolved, not the least of which was for how much shareholders were willing to sell GMA 7. He promised to “definitely announce” developments even if, in the end, nothing came of the talks.
He explained his apparent endorsement of Kapuso programs to Dish Network subscribers: “We need to help each other to reach more Filipinos abroad. They are helping us. We are cooperating.”
Asked how he saw the Philippine broadcast industry evolving in the next five years, Pangilinan said, “It would be run … not by me entirely. I hope there will be others in command, but we will definitely be a major player.”
A few days back, the Inquirer asked Felipe L. Gozon, GMA 7 chairman and chief executive officer, if there was truth to the rumor that the merger was due in November. Gozon’s response via text: “No.”
On Monday, Pangilinan denied that what he said at the contract signing in San Francisco was a confirmation of anything. It turns out, Gozon and Pangilinan had quickly gotten in touch after speculation to that effect came out in another paper.
Gozon forwarded to the Inquirer a text message from Pangilinan’s camp: “MVP was misquoted… The TV5-GMA 7 bundled offering … is a marketing strategy of the Dish Network.” The “bundling,” an insider pointed out, was precisely what brought about the confusion.
The text from Pangilinan’s camp further said: “There is no such thing as a November deadline. We do not know where that came from … [the two camps still have to agree on] price and other essential matters.”
Gozon said he couldn’t “add to what TV5 said.”
TV5 star Sharon Cuneta told the Inquirer that the text originally came from Ray Espinosa, TV5 president and chief executive officer.
Butch Raquel, GMA 7 consultant for corporate communications, maintained that the network was not in a position to comment on Pangilinan’s supposed confirmation of a merger because “we are not the source of the information.” Raquel added: “To our knowledge MVP has clarified that he was misquoted.”
