There has been recent news of Kapamilya artists and a network executive becoming Kapuso. Will this spell ABS-CBN selling its assets to GMA Network?
In one segment of her Radyo Singko talkshow Cristy Ferminute, Cristy Fermin read one of the messages from her followers saying, “naalala ko po dati na may bali-balita na ibebenta na ang GMA7 pero heto ang ABS-CBN pala ang mawawala.”
Then, Cristy referenced ABS-CBN’s situation to GMA Network’s previous rumors.
“Di ba ang kwento noon, ibinebenta na ang GMA at ang sinasabing bumibili ay si sir Manny V. Pangilinan. May mga ganong kwento.”
She then ends the bit with her opinion about the uncertainties of the entertainment industry.
“Hindi po kasi natin hawak ating buhay at ang ating kinabukasan. Pati po ang lahat ng mayroon tayo ngayon, wala pong nakakaalam kung matutunaw ba o magpapatuloy.”
According to recent reports, ABS-CBN’s net loss jumped 159 percent in the first quarter of 2021 following its shutdown in 2020.
Despite suffering a financial setback, ABS-CBN continues to produce content both on free TV and digital platforms.
ABS-CBN Q1 2021:
Loss +159% to P1.94B vs Q1 2020
Revenue -54.6% to P3.92B
Cost & exp. -37% to P5.77B
Consumer sales 76%
Online streaming, Ch. 11 A27 helped bring P673M revenue in Q1. @InquirerBiz
— Miguel R. Camus (@miguelrcamusINQ) June 8, 2021