GMA Network chairman gives latest update on talks with Ramon Ang to employees | GMANetwork.com - Corporate - Articles

GMA Network Chairman and CEO Felipe L. Gozon has updated employees of GMA Network, Inc. that negotiations with Ramon S. Ang for the minority stake of the media company will no longer proceed.

GMA Network chairman gives latest update on talks with Ramon Ang to employees


GMA Network Chairman and CEO Felipe L. Gozon has updated employees of GMA Network, Inc. that negotiations with Ramon S. Ang for the minority stake of the media company will no longer proceed.
 
"Tulad ng aking laging ipinapangako sa inyo, ako mismo ang magbabahagi ng mga development ukol sa pagbili ni Mr. Ramon Ang ng minority equity shares ng GMA Network.
 
Narito ang latest - ayon sa majority shareholders ng GMA Network (Jimenez, Gozon at Duavit groups), hind na tuloy ang pakikipag-usap nila kay Mr. Ang ukol sa pagbili ng minority equity sa outstanding capital stock ng GMA Network. Ang development na ito ay atin na ring nai-disclose sa Philippine Stock Exchange at Securities & Exchange Commission," read an announcement sent through e-mail to all GMA Network employees this morning.
 
Negotiations between the GMA Network majority shareholders and the San Miguel Corp. president on the sale of the Kapuso Network's minority stake were initially reported in June 2014.
 
Read: GMA Network reports 25 percent increase in Q1 2015 net income