MVP buys out ABS-CBN and GMA-7, launches Philippines’ biggest media network


Businessman Manuel V. Pangilinan confirmed Sunday via his Twitter account that he has sealed the deal in making the Philippines the entertainment capital of the world buying out media conglomerates ABS-CBN and GMA-7.

In a press conference held at the New World Hotel in Makati, MVP who now controls 90 percent of the country’s television market, revealed that he has cashed out at least $8 billion to initiate this mega project.

The final negotiation and contract signing, which happened in an undisclosed location in Singapore, included bigwigs Eugenio Lopez III and Felipe Gozon.

As of this posting, MVP has not decided yet on what to call the mega TV station that will be available on channel 3 on Sky Cable and channel 1 on free-to-air channels. Main headquarters of the newly-established network is currently under construction on a man-made island off the coast of Manila Bay.

The first program that will be aired by the super network is a noontime show hosted by Toni Gonzaga, Vice Ganda, Sarah Geronimo, Regine Velasquez, Lucy Torres, Willie Revillame, Paolo Bediones, Joey de Leon and Vic Sotto. The five-hour variety show will be followed by an early primetime newscast called TV Bente Quatro anchored by the country’s seasoned broadcasters. For the drama lineup, Angel Locsin and Marian Rivera are set to reprise the role as Darna in an action-packed fantasy series entitled Darna Double Up. And the biggest and the most anticipated program of all is the serialized version of The Hunger Games: Philippine Edition which will reunite Star Circle Quest and StarStruck talents. The reality show will be hosted by Sharon Cuneta andMVP himself.


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