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According to the report from AKTV, Manuel V. Pangilinan described the P60 billion price tag sought for rival GMA Network Inc. "Sobrang mahal yun," Pangilinan said when asked if his group would shell out double GMA Network's market value for full ownership of the broadcast company. Manny Pangilinan or very well-known as  MVP chairs Philippine Long Distance Telephone Co., whose unit MediaQuest Holdings owns TV5. InterAksyon.com is the online news portal of TV5.

GMA Network President and CEO Gilberto Duavit Jr of GMA Network clarifies Philippine Star article that Manny V. Pangilinan of TV 5 offers up to P45 B for GMA Network. GMA Network President and Chief Operating Officer Gilberto R. Duavit, Jr. clarified certain points raised in a news article by Mary Ann Ll. Reyes published in the Philippine Star last April 14 headlined “MVP offers up to P45 B for GMA Network.” Duavit said that it is not true that two out of the three major stockholders of GMA “are already amenable to selling their respective 33-percent stake.” He added that the major and controlling shareholders have not yet received a price that is acceptable to them. “We are presently not in serious negotiations with the PLDT group as we have not yet received an offer price that is acceptable to us. The Network is not for sale but that is not to say it may not be sold, depending on the offer price,” Duavit reiterated. Duavit also clarified that the sale of GMA to the PLDT group near...

News are circulating online that Manny Pangilinan is said to acquire GMA 7.GMA Network on Tuesday debunked rumors that TV5 chairman Manuel V. Pangilinan has bought GMA Network. There is no truth to the rumor going around in social media sites and the internet that Mr. Manny Pangilinan has bought GMA Network. In fact, there is no negotiation going on between GMA and Mr. Pangilinan regarding the latter's acquisition of GMA-7.