HOT ON TWITTER: MVP of TV5 plans to acquire GMA-7 for 500 Million Pesos?

Tuesday, December 27, 2011

HOT ON TWITTER: MVP of TV5 plans to acquire GMA-7 for 500 Million Pesos?

It is a hot issue on blogs and social networking sites like twitter that TV5 Chairman Manny V. Pangilinan (MVP) plans to buy-out one of the major TV stations in the country, the GMA Network for Php500 Billion. GMA-7 worth only Php22 Million according to Philippines Stock Exchange (PSE).

The news sparked from Ruffa Gutierrez' tweet regarding what's MVP will be buying next. Though Ruffa doesnt mention (in her tweet) any name or any company.

"Guess what MVP is buying next?? Found out last week through a little birdy but the few people I told didn't believe me. Now its CONFIRMEDDD."

The news was intensified when PEP via @scoopbox tweeted and give details on the acquisition deal between GMA-7 owners and MVP.

"Hot topic ngayon ang business deal na ginagawa diumano sa pagitan nina Manny Pangilinan, sa isang banda, at ang pamilya Jimenez, Duavit, at Gozon ng GMA-7, sa ibang banda. Mind-boggling daw ang offer ni MVP para makuha ang Kapuso network, kaya mahirap mahindian. Ngunit sa ngayon, 2/3rds pa lang daw ang completion ng deal. Meron pa raw kasing pamilya na hindi kumbinsido, o dili kaya‘y nagho-hold out for a better deal. Pero sa lumulutang na figures, mukhang mahirap nang matapatan ang offer ni MVP. Abangan!"

But this afternoon, Dec. 27, 2011, GMA Network releases an official statement denying the rumors circulating on web. According to their letter to PSE:

OFFICIAL STATEMENT: We reply to your letter dated today requesting clarification on the report that Mr. Manny V. Pangilinan has offered to buy GMA Network Inc (GMA) for PHP 500 Billiom.

We would like to inform you and the public that THERE IS NO TRUTH TO THE SAID REPORT.

Allan's Thoughts:
If the acquisition deal between GMA Network Executives and Manny V. Pangilinan is not true? then, where did PEP (Philippine Entertainment Portal) get all the details they tweeted ?