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GMA Network says “NO” on Manny Pacquiao and Chavit Singson’s bid

GMA Network Inc, said “No” to the offer of Sarangani Representative Manny Pacquiao and Former Ilocos Sur Governor Luis Chavit Singson to buy shares Kapuso station. This statement came from GMA Network Chairman and CEO Atty Felipe L. Gozon last December 9, 2015.


It was also confirmed at GMA News online that there have been receiving a lot of offers of purchasing GMA Network.

People from different field may it be old and new are very much interested with the Kapuso shares.

GMA CEO Felipe Gozon

San Miguel Corporation, Mr. Ramon Ang is very interested. Last October Chavit Singson mentioned that he and friend Manny Pacquiao wanted to buy shares from the said Network.


But it did not materialize since they’re talking about billions here they still have to loan that amount.

Reason why they choose GMA Network?

GMA Network is No.1 Nationwide at the moment and the Leaders and staff of GMA Network are expecting better result by gaining more than 100% earnings before the year end.

According to Atty. Gozon, “We are also expecting better revenues from political ads versus 2010, considering that rates are higher this year and considering also our current lead in NUTAM (Nationwide Urban Television Audience Measurement) ratings.

“We have exceeded all our targets as of December 9, 2015.”

The Network has maintained it’s high revenues until the third quarter of this year. With a net income of 67% or P706 billion from P422 billion during the first quarter of 2015 With an increase of 80% in a span of 9 months equivalent to P1,804 billion.

Atty. Gozon stated, “Our company is in strong financial position as we continue to dominate the nationwide ratings.

“We expect to sustain this growth and eventually finish the year on a solid note in terms of our revenues and ratings.”

The digitalization of the Network will be implemented this 2016.

During the christmas party it was announced that they have won against ABS-CBN in the NUTAM.

These achievement of GMA Network attracts more investors, businessman, celebrities and politicians to be part of the Network.

Will Manny Pacquiao and Chavit Singson get a positive answer? We’ll have to wait and stay tune.

WATCH: Elmo Magalona and Janella Salvador team-up in ABS-CBN’s “Born For You”

GMA Network has zoomed to the top of the AGB NUTAM ratings since September