Filipino telcos PLDT and Globe may consider stake in GMA Network

The Philippines’ two largest telecoms companies, Philippine Long Distance Telephone Co (PLDT) and Globe Telecom, have said they are both open to reviving talks with the owners of GMA Network to acquire a minority stake in the broadcast company. PLDT chairman Manuel Pangilinan told reporters that whilst no talks are yet underway, his company would see a tie-up as ‘quite important’ from a purely content perspective. ‘Local content is still important to a platform provider like PLDT,’ he said, while separately, Globe investor relations director Jose Mari Fajardo confirmed that the telco continues to ‘engage in discussions with GMA for potential content collaboration that would complement the businesses of the two companies.’ The Manila Standard Today notes that the Gozon, Jimenez and Duavit families own a combined 79% of GMA Network, which airs on Channel 7 on free TV.