TV5 boss Manny Pangilinan allegedly offered ₱45 billion to buy GMA Network

Philstar.com reported on Saturday, April 14, that TV5 boss and Philippine Long Distance Telephone (PLDT) chairman Manuel V. Pangilinan "has allegedly offered up to ₱45 billion for a 100-percent stake in GMA Network Inc.." However, the reported noted: "Sources told The Philippine Star, however, that the majority owners of GMA are asking for ₱55 billion."

Philstar.com went on to claim that "the Jimenez and Duavit families are already amenable to selling their respective 33-percent stake in GMA. Atty. Felipe Gozon, chairman and CEO of the broadcasting network who owns the remaining one-third stake, has not yet agreed."

For more on this story, log on to Philstar.com.