Both GMA And PLDT Media Quest Deny Manny Panginilinan Has Bought GMA-7

GMA NETWORK and the camp of tycoon Manny Pangilinan with his PLDT-Media Quest Holdings have both denied the persistent rumors that the latter have already bought the Kapuso channel for a total of P48 billion. Wonder what those who claim it’s a done deal and Kris Aquino has already been hired by Pangilinan to head GMA will say about this?

So far, what Media Quest has acquired is a major stake at Business World and High Life Magazine. As of now, it also owns TV5, Nation Broadcasting and Cignal Digital TV. It doesn’t deny that it has offers for GMA, but nothing has materialized so far.