Gozon says other parties 'interested' in acquiring GMA Network


Posted at May 16 2012 04:36 PM | Updated as of May 17 2012 05:59 AM

MANILA, Philippines - It's not just businessman Manuel V. Pangilinan who is reportedly interested in buying GMA Network Inc. Felipe Gozon, chairman of GMA Network, said other parties have expressed interest in acquiring the multimedia company.

"(GMA-7) is very attractive and desirable, not only to MVP (Manuel V. Pangilinan). There were others that expressed interest," Gozon said, at the sidelines of the company's stockholders' meeting on Wednesday.

He said interested parties have submitted offers for GMA Network, but none of them were found to be acceptable.

Pangilinan has earlier said that his group would be interested in buying into GMA Network.

Gozon maintained there are no on-going talks with Pangilinan, although the businessman submitted a revised offer last year.

"We are really not negotiating with MVP.  He expressed his interest a long time ago. Since the first transaction did not push through he did not lose interest. Yes, there was a revised offer," he said.

A few years ago, MediaQuest Holdings Inc., the media holding company of PLDT Beneficial Trust Fund, attempted to purchase 66% of GMA, but negotiations failed.

Gozon insisted that they are not selling GMA Network, but are open to any possible buyout offers.
"We are not really selling but we are entertaining offers to buy. As I have said before, even if we are not for sale, but for the right price we might be persuaded," he said.

Gozon owns 20% of GMA, according to GMA disclosures. The Duavit and Jimenez families own 23% each