While Media Quest Inc. and GMA Network has announced the termination of a possible acquisition of Kapuso network, a Globe Telecom executive has admitted that there are ongoing talks between their company and the Lopez group.
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The Lopez Holdings Corporation owns ABS-CBN network, Sky Cable, and Bayan Telecommunications.
In a report published by Rappler last Thursday, October 4, Globe president Ernest Cu said that the discussions with Eugenio "Gabby" Lopez III, chairman and chief executive officer of the Lopez Group of Companies, are about the business synergies related to their upcoming partnership on telecommunications.
The National Telecommunications Commission (NTC) recently allowed Ayala-led Globe Telecom and the Lopez-owned Bayan Telecommunication to share mobile and broadband frequencies.
Cu said, “We’ve always been talking. I cannot deny that Gabby and I regularly talk.
“We always talk on what do we partner with, the capabilities, what’s going on."
When asked if the talks also included possible acquisition of any of the Lopez-owned units, Cu answered, “All of the above. They’re all included.”
Cu also said that he and Lopez often talk about all forms of partnership, which include providing contents for mobile subscribers.
“The objective is to partner with someone who knows content and ABS-CBN is a fantastic content. The best content for Globe, better than GMA 7. Gabby knows his business,” said the Globe president.