Officials confirm talks on GMA-7 sale

Businessman Ramon Ang and GMA chairman Atty. Felipe Gozon confirmed that they are in talks for Ang to buy or buy into the network. Ang is the president and chief operating officer of San Miguel Corporation and Philippine Airlines.

Gozon made the statement during the company’s first quarter briefing, as reported by GMA News itself. GMA had previously declined to comment on speculation or simply said various parties were interested in the company.

For his part, Ang confirmed the talks in a text message sent to ANC, which read, “Yes, in talks.” He is reportedly considering buying GMA-7 in his personal capacity.

Speculations that Ang may take control of GMA rose after the network’s talks with the Philippine Long Distance Telephone Co. (PLDT) Group fell through in March.

Earlier this year, PLDT chairman Manuel V. Pangilinan said they are aiming for a minority stake in GMA Network Inc. Rumor had it back then that PLDT was nearing the completion of a buyout of GMA’s main shareholders.