Following the presumptive win of Ferdinand Marcos Jr., GMA Network Inc. assured all of its stockholders of a “harmonious and proper” relationship with the incoming government.
During its annual stockholders’ meeting on Wednesday, May 18, GMA Network Chairman and CEO Felipe Gozon said that the company has complied with all the laws and regulations thus, they’re not expecting any “legal problems” with the new administration.
“We have no reason to believe that our relationship with the new government will not be friendly, harmonious, and proper,” he said.
GMA Network’s shares plummeted by 23% after the election, which saw the imminent win of Marcos Jr.
The network’s assurance came after rumors of an ownership takeover resurfaced.
Former broadcaster and fake-news king Jay Sonza in one of his social media comments, insinuated that GMA Network does not favor a Marcos Jr. win to protect the company’s ownership. Sonza claimed that one-third of GMA Network is owned by Marcos “dummies” which Lucio Tan and Sen. Imee Marcos are contesting.
GMA Network is currently controlled by the Duavit, Gozon, and Jimenez families.
In 2007, Sen. Imee Marcos, sister of the presumptive president Marcos Jr. filed a complaint against GMA Network before the Securities and Exchange Commission (SEC), claiming almost one-third of the company’s shares.
Imee alleged that those were shares entrusted by their late father, the dictator Ferdinand Marcos Sr. to the Duavit family in the ’80s.
However, the SEC dismissed the complaint saying there’s “no pending case impugning the ownership of the said shares has been filed in court by Marcos against the Duavits”.
